ALANA Brain Trust Launches Banking Alliance to Help Minority Businesses Access PPP Forgivable Loans

January 8, 2021 Dr. Bruce Peter Corrie ALANA Brain Trust, ALANA Business, Policy 1

To address the poor outreach to minority businesses during the last PPP program we have assembled a partnership of banks and lenders in Minnesota who have agreed to help you access a PPP loan. Banking partners include Premier Bank, Choice Bank, Bremer Bank, Drake Bank, Maple Bank, Sunrise Bank, and Spire Credit Union. Additional banks will be added.

If you are interested in applying for a PPP forgivable loan through our lending partners than please fill in your contact details in a short application form at this link

In addition the ALANA Brain Trust can help minority businesses connect with nonprofit CDFIs such as MEDA and NDC that have a dedicated pool of PPP funds for minority businesses or others such AEDS that work with nonprofit lenders.

Banks in the alliance are interested in building long term relationships with minority businesses. Borrowers could take a second PPP loan or apply for a new loan if they missed the last round of funding.

The ALANA Community Brain Trust – African Latino Asian and Native American (ALANA) – a multiethnic network of individuals and organizations working to grow capital and build capacity in our ALANA communities.  Over the past few months, we have engaged with the Federal Reserve Bank of Minneapolis, Minnesota’s Congressional Delegation, the SBA, DEED, the Governor’s Office and most recently our recommendations were integrated into the report of the Minnesota House Select Committee on Racial Justice. Our policy advocacy for dedicated funding for ALANA businesses and ALANA CDFIs and microlenders is also reflected in the recent changes to the PPP program approved by Congress.

Brett Buckner, Jane Leonard and Dr. Bruce Corrie serve as stewards of the ALANA Community Brain Trust. You can find more information at www.empoweringstrategies.org. For more information please contact Dr. Bruce Corrie (brucecorrie@gmail.com), Brett Buckner (brett1mn@gmail.com), Jane Leonard (Jane@growthandjustice.org).

Details about the new round of PPP loans from SBA Minnesota can be found below

SBA-PPP-Round-2-and-moreDownload
About Dr. Bruce Peter Corrie 74 Articles
Economist rooted in the experience of ALANA (African Latino Asian Native American) communities with expertise in economic and academic inclusion and community empowerment. Pioneering work in the creation of "Cultural Destinations" a strategy to leverage cultural assets for wealth building in low income diverse communities. My work has been inspired by Mother Teresa, Mahatma Gandhi, Nelson Mandela, Dr. Martin Luther King, Jr., and Paulo Freire. Economist and a steward of the ALANA Brain Trust which works to bring capital and capacity to the ALANA communities.
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