Pohlad Family Foundation Pledges up to $20 Million to Support Small Business, Improve Neighborhoods and Retain Important Nonprofit Services
“Job loss, housing loss and lack of credit are the problems impeding the economic recovery,” said Jim Pohlad, Pohlad Family Foundation Director. “Our support targets all three.”
Specific nonprofit partners will administer most of the programs and determine which groups receive funds. Under the program, select small businesses can apply for funds to retain needed jobs or secure low interest loans to meet immediate capital needs or fund growth plans and services. Housing agencies will use funds to provide housing to families, purchase and rehab housing, and increase homeownership. Select nonprofit agencies can also apply for funds for needed services.