Minneapolis, MN

METROPOLITAN ECONOMIC DEVELOPMENT ASSOCIATION

EIN 41-0977257

Community & Economic Development Small Business & Entrepreneurship Communities of color Low-income

Mission

MEDA advances economic equity by helping underserved and BIPOC entrepreneurs succeed through integrated services: business consulting, access to capital, and connections to market opportunities.

IRS-recognized 501(c)(3) public charity Contributions are tax-deductible

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About METROPOLITAN ECONOMIC DEVELOPMENT ASSOCIATION

Founded in 1971 and headquartered in Minneapolis, the Metropolitan Economic Development Association (MEDA) is a donor-facing nonprofit and Community Development Financial Institution (CDFI) that focuses on supporting underserved and BIPOC entrepreneurs across Minnesota. MEDA delivers one-on-one business consulting, commercial lending and loan packaging, and connections to public and private contracting opportunities to help small businesses grow and create wealth in their communities.

MEDA operates a suite of programs and funds, hosts the Minneapolis MBDA Business Center, and partners with state and local governments to administer targeted loan programs. Over its history MEDA has launched and supported hundreds of businesses and, in recent years, has expanded lending and programmatic activity to meet heightened demand for capital and technical assistance among entrepreneurs of color.

Notable achievements

Lead administrator — MN PROMISE / $22M loan program

Selected by state partners to administer the MN PROMISE loan program, a targeted loan initiative to direct $22 million of capital to small, disadvantaged and BIPOC-owned businesses in Minneapolis–Saint Paul, expanding MEDA’s lending reach and catalytic support for business growth.

Significant lending and client impact (2023–2024)

In recent reporting years MEDA greatly expanded lending and advisory reach — serving several hundred entrepreneur clients and facilitating roughly $19–20 million in loans to small businesses in a single year, while helping clients secure millions more in contracts and revenue growth.

Certified CDFI with multiple federal awards

MEDA is a certified Community Development Financial Institution and has received multiple CDFI Fund awards and allocations that have bolstered its loan capital and technical assistance capacity, enabling expanded lending to underserved entrepreneurs.

At a glance

Total assets: $63.5M
Annual revenue: $15.5M
Tax status: 501(c)(3)Public charity
EIN: 41-0977257
Location: Minneapolis, MN
Website: meda.net
On Mahalo since: September 2026

Financial figures from the IRS Business Master File, the IRS’s registry of tax-exempt organizations.

Recognition

Rated a Three-Star charity by Charity Navigator (organizational performance rating).

Certified CDFI and repeat awardee of CDFI Fund programs and state allocations that support community lending.

Host organization for the Minneapolis MBDA Business Center, which has been recognized as a top-performing MBDA center in prior years.

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