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Senate committee amends WomenVenture funding bill to draw from workforce fund; request totals $8 million
Summary
Sen. Port presented SF 2336 seeking $8 million for WomenVenture to expand business development, grants and low-cost capital for childcare, food and ag entrepreneurs; the committee replaced a general fund reference with the workforce development fund and laid the bill over for possible inclusion.
Sen. Port testified that Senate File 2336 requests $8,000,000 to expand WomenVenture’s business development, management support and capital programs targeted to childcare, food and agricultural small businesses across Minnesota.
Program and past funding: Leanne Rosacek, CEO of WomenVenture, reported that the organization has reached 80 of 87 counties since 2022 and, after prior legislative support, has served hundreds of clients. Fiscal staff told the committee WomenVenture previously received $2,000,000 (FY2024) and $1,000,000 (FY2025) in one-time appropriations; SF 2336 originally referenced the general fund but the sponsor and the committee adopted an oral amendment to substitute the workforce development fund for the line referencing the source.
Why the request: Rosacek described measurable outcomes from the prior appropriation: more than 600 clients served, 2,700 service hours, more than 1,300 jobs created or sustained, 50 businesses started and $675,000 in loan capital deployed. She and other witnesses argued that additional funding will support childcare business stability, food and agriculture supply-chain supports and shared services for providers.
Committee concerns and amendments: Committee members asked for details on portfolio composition (grants vs. loans vs. forgivable loans), opportunities for bank participation and use of federal funds. Rosacek said WomenVenture uses participation loans with community banks and receives some federal CDFI funding but relies heavily on grant and RFP revenue. Following discussion, Senator Mohammed offered and the committee approved an oral amendment replacing the general fund reference with the workforce development fund; SF 2336, as amended, was laid over for possible inclusion.
