At a glance
From its website, read 2 Nov 2026Metropolitan Economic Development Association is a loan fund based in Minneapolis, Minnesota. Its website describes commercial real estate loans, SBA-backed loans and small-business loans. Where it lends: Designated disadvantaged areas of Minneapolis and St. Paul, Minnesota (PROMISE loans).
Each point is backed by a quote further down this page. Terms change: confirm with the lender.
How to reach them and apply
| Website | www.meda.net |
|---|---|
| Office (official list) | 1256 Penn Avenue North Suite 4800, Minneapolis, MN 55411 |
Phone numbers and addresses are the ones on the lender's own site and the CDFI Fund list. CDFI Atlas does not take applications.
Official record
CDFI Fund list, 21 Oct 2026| Institution type | Loan fund |
|---|---|
| Native CDFI | No |
| Date certified (as listed) | 13 Jul 2025 |
| RSSD ID | — (none listed) |
| Address | 1256 Penn Avenue North Suite 4800, Minneapolis, MN 55411 Directions (Google Maps) |
| Website | www.meda.net |
Head officeBranch or officeApproximate (ZIP code area)
Map data © OpenStreetMap contributors, © OpenMapTiles, tiles OpenFreeMap. Head-office points: U.S. Census Bureau geocoder.
Loans and eligibility
Verified from lender site on 2 Nov 2026Read from 7 pages of the lender's website on 2 Nov 2026. Quotes are verbatim. Extracted with AI help from the pages listed below and checked automatically against them. Not reviewed by a person. Confidence: medium. Loan amounts and an online loan application were not stated on the pages fetched. Terms change — confirm with the lender before applying.
| Product | Amount stated | Text on the lender's site (verbatim, incl. menu labels) | Page |
|---|---|---|---|
| Commercial real estate loans | — | MEDA provides access to funding for commercial real estate with conventional lending, SBA products, or other creative packages. | source |
| SBA-backed loans (7(a)/504/Community Advantage) | — | MEDA funds Community Advantage as well as 504 loans. | source |
| Small-business loans | — | The PROMISE Act (Providing Resources & Opportunity while Maximizing Investments in Striving Entrepreneurs) Loan Program is a state-funded program providing loans to small businesses located in disadvantaged areas of Minneapolis and St. Paul. | source |
Loan sizes
No amounts stated on the pages we read.
Service area
Designated disadvantaged areas of Minneapolis and St. Paul, Minnesota (PROMISE loans)
providing loans to small businesses located in disadvantaged areas of Minneapolis and St. Paul.
source
Counties this matches: Anoka County, MN, Carver County, MN, Hennepin County, MN
Borrower focus
- Minority / BIPOC
we also have several lending tools to fund mergers and acquisitions for BIPOC Entrepreneurs.
source
Languages
- No non-English service found on the pages we read.
Online application
No online application link found on the pages we read.
Questions to ask when you contact them
Based on what their website said when we read it on 2 Nov 2026, and what it left out. Something missing here does not mean they don't offer it: ask.
- What are the smallest and the largest loans you make?
No loan amounts are stated on their website. - What interest rate and fees should I expect on your commercial real estate loans and SBA-backed loans?
Their website does not state a rate for this. - Do you need collateral, a business plan or a minimum time in business?
Their website does not say what they require. - How long can I take to repay?
No repayment terms are stated on their website. - Can I apply online, or do I need to call or visit?
We found no online application on their website. - Do you offer free coaching or help preparing my application?
CDFI certification requires development services, such as training or advice, alongside lending. - What documents will you need from me, and how long does a decision usually take?
Write down the answers, who you spoke to and the date, and ask for the terms in writing before you sign.
CDFI Fund awards
CDFI Fund database, 3 Nov 2026$12.9 million in 10 awards from the U.S. Treasury's CDFI Fund, 2008–2022 (4 programs).
| Round year | Program | Amount |
|---|---|---|
| 2022 | CDFI Equitable Recovery Program | $5,887,242 |
| 2021 | CDFI Rapid Response Program | $1,826,265 |
| 2020 | CDFI Program, Financial Assistance | $557,000 |
| 2019 | CDFI Program, Financial Assistance | $565,000 |
| 2018 | CDFI Program, Financial Assistance | $700,000 |
| 2016 | CDFI Program, Financial Assistance | $1,500,000 |
| 2014 | CDFI Program, Financial Assistance | $700,000 |
| 2013 | CDFI Program, Financial Assistance | $600,000 |
| 2011 | CDFI Program, Financial Assistance | $500,000 |
| 2008 | CDFI Program, Technical Assistance | $99,305 |
These are awards and investments made to the institution itself to build its capital and capacity. They are not loans to borrowers, and an award does not mean the lender has money available for a particular loan today.
Source: CDFI Fund Searchable Awards Database, all 12,628 award records (1996–2025), read 3 Nov 2026. Years are the award round as the database lists it. Matched to the official CDFI list by exact name and state; see the method on the About page.
Size of the fund (IRS Form 990)
Fiscal year ending Dec 2023| Total assets | $43M |
|---|---|
| Total liabilities | $31.4M |
| Net assets | $11.6M |
| Total revenue | $9.3M |
| Program-related investments (Part X line 13) | $27.7M |
End-of-year figures from the Form 990 this organisation filed with the IRS for the fiscal year ending December 2023 (tax year 2023; EIN 41-0977257, filed as “METROPOLITAN ECONOMIC DEVELOPMENT ASSOCIATION”), taken from the IRS Annual Extract of Tax-Exempt Organization Financial Data (returns processed in 2024). Figures are self-reported to the IRS, not audited by us, and lag one to two years behind today. The lender’s own annual report may show newer numbers. This organisation’s filings on ProPublica Nonprofit Explorer
Filings over time
| Fiscal year ending | Total assets | Net assets | Revenue |
|---|---|---|---|
| Dec 2021 (990) | $45.1M | $13.3M | $12.1M |
| Dec 2022 (990) | $38.7M | $10.4M | $6.6M |
| Dec 2023 (990) | $43M | $11.6M | $9.3M |
Total assets fell 5% from Dec 2021 to Dec 2023. One row per fiscal year in the IRS extracts of returns processed in 2022, 2023, 2024; “—” = the line was empty or zero on that return (a fund can book its loans on other lines).
How it compares
Computed from public data| Measure | This lender | Compared with |
|---|---|---|
| Total assets, latest IRS Form 990 | $43M | Larger than 68% of the 19 other certified loan funds and venture funds in Minnesota with a matched Form 990 (median $20.5M). |
How these comparisons were worked out
| Measure | Peer group (this lender left out) | Peers | Where this lender sits |
|---|---|---|---|
| Form 990 total assets | certified loan and venture funds with a Form 990, in Minnesota | 19 | larger than 68% |
“Larger than X%” = the share of the peer group with a smaller value. Ranks count from the largest. Peer groups use the lender's home state when it has at least 5 peers, otherwise the whole country. Full definitions: methodology.
For comparison, not an offer and not a rating. Past records show what this lender did, not what you would be offered. Peer groups and sources: methodology. Form 990 figures: IRS annual extracts (see the Form 990 section).
SBA loans approved
SBA data as of 30 Sep 2026The SBA's public loan data lists 7 SBA-backed approvals for Metropolitan Economic Development Association in fiscal years 2020–2026 (October 2019 to September 2026):
- 4 7(a) loans as the lender: $801,700 in total (gross amount approved), median $207,850
- 3 504 projects as the third-party (first-lien) lender: $2.7M in total (its own third-party loan amount), median $469,000
By fiscal year: FY2020 2 · FY2021 2 · FY2022 1 · FY2023 2 · FY2024 0 · FY2025 0 · FY2026 0.
By program
- 7(a) Community Advantage (4, 57%)
- 504 projects (as the third-party lender) (3, 43%)
Borrower industries
NAICS sector, 3 or more loans.
- Accommodation and food services (3)
How this lender was matched in the SBA files: 504 third-party lender name: same name, state and city (SBA lists “Metropolitan Economic Development Association”); SBA lender ID 0489496: same name, state and city (SBA lists “Metropolitan Economic Development Association”).
Approved is not the same as paid out: an approved loan can be reduced or never drawn. SBA lists the lender each loan is currently assigned to, which can differ after a merger or loan sale. Metropolitan Economic Development Association may also make loans outside SBA programs, which are not counted here, and SBA Microloans are not in these files. For 504 projects, the CDC amount is the SBA-backed portion and the third-party lender amount is that lender's own first-lien loan.
Source: U.S. Small Business Administration, 7(a) & 504 FOIA loan data, files as of 30 Sep 2026, downloaded 3 Nov 2026. Our counts, cancelled approvals left out. How we match lenders.
Other certified CDFIs in Minneapolis and Minnesota
- African Development CenterLoan fund · Minneapolis, MNMicroloans, SBA-backed loans (7(a)/504/Community Advantage), Small-business loansVerified
- Community Reinvestment Fund, IncLoan fund · Minneapolis, MNSmall-business loansVerified
- First Children's FinanceLoan fund · Minneapolis, MNChild-care facility financing, Small-business loansVerified
- Metropolitan Consortium of Community DevelopersLoan fund · Minneapolis, MNCommercial real estate loans, Credit-builder loans, Small-business loansVerified
- Mni Sota FundLoan fund · Minneapolis, MN · Native CDFICredit-builder loans, Personal / consumer loans, Small-business loansVerified
- Propel NonprofitsLoan fund · Minneapolis, MNMicroloans, Nonprofit / community facility loansVerified
- The Sunlight Loan Fund, LLCLoan fund · Minneapolis, MNChild-care facility financingVerified
Work at Metropolitan Economic Development Association? Link to this page
Paste this into your website to show you are listed. If anything here is wrong, tell us first (how).
Something wrong or out of date on this page? Use the contact page or email contact@cdfiatlas.com and name the page.
CDFI Atlas is not a lender and does not give financial advice. Inclusion is not an endorsement, and lenders have not reviewed or approved these pages. Disclaimer.