At a glance
From its website, read 2 Nov 2026Northeast Entrepreneur Fund, Inc. is a loan fund based in Duluth, Minnesota. Its website describes commercial real estate loans, microloans, SBA-backed loans and 1 other loan type. Stated loan amounts run from $1,000 to $750,000. Where it lends: 29 counties in Minnesota and Wisconsin, plus 12 Native nations. You can start an application online.
Each point is backed by a quote further down this page. Terms change: confirm with the lender.
How to reach them and apply
| Main | (218) 623-5747 source |
|---|---|
| Apply online | Page with the application link |
| Website | www.entrepreneurfund.org |
| Office (official list) | 202 West Superior Street Suite 311, Duluth, MN 55802 |
What their website says about applying
By completing the form below you are taking the first step toward accessing the financial support you seek.
sourceAt the end, you'll schedule a time to meet with an advisor in your area to get started on a path towards success.
source
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) | 2 Jun 2026 |
| RSSD ID | — (none listed) |
| Address | 202 West Superior Street Suite 311, Duluth, MN 55802 Directions (Google Maps) |
| Website | www.entrepreneurfund.org |
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: high. 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 | — | Gap loans are commonly used for commercial real estate projects, such as a mortgage or major renovation. | source |
| Microloans | up to $50,000 | SBA Microloans provide access to capital for businesses to start and grow. Loans of up to $50,000. | source |
| SBA-backed loans (7(a)/504/Community Advantage) | — | We offer multiple types of loans including SBA Microloans, SBA 7(a), and small business loans ranging from $1,000 to $750,000. | source |
| Small-business loans | $1,000 – $750,000 | small business loans ranging from $1,000 to $750,000 | source |
Loan sizes
We offer multiple types of loans including SBA Microloans, SBA 7(a), and small business loans ranging from $1,000 to $750,000.
sourceSBA Microloans provide access to capital for businesses to start and grow. Loans of up to $50,000.
sourceEFund can complement financial contributions to fill an existing funding gap of up to $750,000.
source
Range used for the size filter: $1,000 to $750,000
Service area
29 counties in Minnesota and Wisconsin, plus 12 Native nations
We focus on serving entrepreneurs and businesses located in 29 counties and 12 Native nations that share geography with Minnesota and Wisconsin.
source
Borrower focus
- Rural
our commitment to serving rural communities remains steadfast
source
Languages
- No non-English service found on the pages we read.
Online application
Yes — the site links to an application. By completing the form below you are taking the first step toward accessing the financial support you seek.
source
Pages read (7)
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 interest rate and fees should I expect on your commercial real estate loans and microloans?
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. - 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?
Their website describes some application steps (above); ask for the full document list.
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$20.6 million in 20 awards from the U.S. Treasury's CDFI Fund, 1997–2024 (4 programs).
| Round year | Program | Amount |
|---|---|---|
| 2024 | CDFI Program, Financial Assistance | $1,250,000 |
| 2024 | Healthy Food Financing Initiative, Financial Assistance | $750,000 |
| 2022 | CDFI Equitable Recovery Program | $4,957,678 |
| 2022 | CDFI Program, Financial Assistance | $510,000 |
| 2022 | Healthy Food Financing Initiative, Financial Assistance | $1,000,000 |
| 2021 | CDFI Program, Financial Assistance | $525,000 |
| 2021 | CDFI Rapid Response Program | $1,826,265 |
| 2021 | Healthy Food Financing Initiative, Financial Assistance | $500,000 |
| 2020 | CDFI Program, Financial Assistance | $520,000 |
| 2020 | Healthy Food Financing Initiative, Financial Assistance | $500,000 |
| 2019 | CDFI Program, Financial Assistance | $565,000 |
| 2019 | Healthy Food Financing Initiative, Financial Assistance | $750,000 |
| 2018 | CDFI Program, Financial Assistance | $700,000 |
| 2017 | CDFI Program, Financial Assistance | $776,500 |
| 2015 | CDFI Program, Financial Assistance | $1,260,000 |
| 2013 | CDFI Program, Financial Assistance | $1,347,000 |
| 2011 | CDFI Program, Financial Assistance | $1,500,000 |
| 2010 | CDFI Program, Financial Assistance | $750,000 |
| 1999 | CDFI Program, Financial Assistance | $368,000 |
| 1997 | CDFI Program, Financial Assistance | $285,000 |
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 | $70.8M |
|---|---|
| Total liabilities | $41.7M |
| Net assets | $29.1M |
| Total revenue | $12.8M |
| Program-related investments (Part X line 13) | $54.4M |
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 36-3566632, filed as “NORTHEAST ENTREPRENEUR FUND INC”), 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) | $61.6M | $18.3M | $11.5M |
| Dec 2022 (990) | $67.9M | $24.1M | $13M |
| Dec 2023 (990) | $70.8M | $29.1M | $12.8M |
Total assets grew 15% 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 |
|---|---|---|
| Median SBA 7(a) loan it approved, FY2020–FY2026 | $72,500 (146 loans) | All 7(a) lenders in Minnesota: $175,650. Larger than the median loan of 8% of the 97 other certified CDFIs with 10 or more 7(a) loans. |
| SBA approvals, FY2023–24 → FY2025–26 | 4 → 13 | Rank among the 6 certified CDFIs in Minnesota with SBA approvals in either period: 3 → 2. |
| Largest loan its website states | $750,000 | Other loan funds whose website states a maximum: median $250,000. Higher than the stated maximum of 71% of these 184. |
| Total assets, latest IRS Form 990 | $70.8M | Larger than 79% 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 |
|---|---|---|---|
| Median SBA 7(a) loan | certified CDFIs with 10+ 7(a) loans, nationwide | 97 | larger than 8% |
| SBA approvals then vs now | certified CDFIs in Minnesota with SBA approvals FY2023–2026 | 5 | rank 3 → 2 of 6 |
| Largest stated loan | other loan funds stating a maximum, nationwide | 184 | higher than 71% |
| Form 990 total assets | certified loan and venture funds with a Form 990, in Minnesota | 19 | larger than 79% |
“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; your rate depends on the loan and on the lender's review. Peer groups and sources: methodology. SBA 7(a) & 504 FOIA data as of 30 Sep 2026. 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 156 SBA-backed approvals for Northeast Entrepreneur Fund, Inc. in fiscal years 2020–2026 (October 2019 to September 2026):
- 146 7(a) loans as the lender: $14.4M in total (gross amount approved), median $72,500
- 10 504 projects as the third-party (first-lien) lender: $4.9M in total (its own third-party loan amount), median $438,750
By fiscal year: FY2020 68 · FY2021 64 · FY2022 7 · FY2023 3 · FY2024 1 · FY2025 8 · FY2026 5.
What actually happened
- Size of its 7(a) loans: half were between $51,950 and $116,025, median $72,500 (146 loans)
- Size of its 504 first-lien loans (third-party lender): half were between $356,250 and $659,425, median $438,750 (10 loans)
- Term of its 7(a) loans: median 120 months (10 years) (146 loans)
- Term of its 504 first-lien loans (third-party lender): median 300 months (25 years) (10 loans)
- Fixed or variable: 8% of its 7(a) loans had a fixed rate (146 loans)
- Young businesses: 33% of its 7(a) loans went to a startup or a business two years old or less (141 loans with an answer)
Descriptive only: what the SBA file records for loans this lender approved in fiscal years 2020–2026. Each figure covers at least 10 loans; with fewer we show nothing. It is not an offer, not the rate or term you would get, and says nothing about your chance of approval.
By program
- 7(a) SBA Express (123, 79%)
- 7(a) standard (23, 15%)
- 504 projects (as the third-party lender) (10, 6%)
Borrower industries
NAICS sector, 3 or more loans.
- Accommodation and food services (42)
- Retail trade (18)
- Other services (except public administration) (17)
- Manufacturing (15)
- Transportation and warehousing (15)
Where borrowers are
County of the borrower's ZIP code, 3 or more loans.
- St. Louis County, MN (82)
- Douglas County, WI (18)
- Lake County, MN (12)
- Itasca County, MN (7)
- Crow Wing County, MN (6)
- Koochiching County, MN (5)
- Pine County, MN (4)
- Morrison County, MN (3)
- Carlton County, MN (3)
- Aitkin County, MN (3)
How this lender was matched in the SBA files: 504 third-party lender name: same name, state and city (SBA lists “Northeast Entrepreneur Fund, Inc.”); SBA lender ID 0471718: same name, state and city (SBA lists “Northeast Entrepreneur Fund, Inc.”).
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. Northeast Entrepreneur Fund, Inc. 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 Duluth and Minnesota
- Minnesota Power Employees Credit UnionCredit union · Duluth, MNAuto / vehicle loans, Small-dollar / emergency loans, Home mortgages, Small-business loansVerified
- Neighborhood Housing Services of Duluth, Inc.Loan fund · Duluth, MNHome repair / improvement loansVerified
- Northland FoundationLoan fund · Duluth, MNCommercial real estate loans, SBA-backed loans (7(a)/504/Community Advantage), Small-business loansVerified
- African Development CenterLoan fund · Minneapolis, MNMicroloans, SBA-backed loans (7(a)/504/Community Advantage), Small-business loansVerified
- African Economic Development SolutionsLoan fund · St Paul, MNCredit-builder loans, Microloans, Small-business loansVerified
- Community Reinvestment Fund, IncLoan fund · Minneapolis, MNSmall-business loansVerified
Work at Northeast Entrepreneur Fund, Inc.? Link to this page
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