Metropolitan Economic Development Association

Meda's mission is to Help BIPOC Entrepreneurs Succeed. Our theory of change is that successful BIPOC entrepreneurship creates wealth in communities of color which is a primary strategy to build a more just and fair economy. To fulfil our mission, Meda provides integrated, wrap-around services in the areas all entrepreneurs need to be successful to grow and scale their businesses- Management Education, Money and Market. Meda's services and products are available to Black, Indigenous, People of Color (BIPOC) Entrepreneurs exclusively. In 2022, Meda focused again on helping BIPOC Entrepreneurs Respond To, Recover and Retool from the COVID-19 pandemic and the ever-changing Economic Environment. We provided emergency and sophisticated business consulting to help BIPOC Entrepreneurs and Businesses. Our CDFI provided Paycheck Protection Program funding, lines of credit and other term debt products to fund hiring, inventory, and equipment. Meda served as the administrator on behalf of the Minnesota Department of Employment and Economic Development, to issue over five hundred and ninety $10,000 grants to businesses affected by the COVID-19 pandemic. Meda's Minnesota MBDA Business Center and Ascend Twin Cities connected BIPOC contractors to secure contracts that lead to sustainable growth.In all, Meda served 628 BIPOC Entrepreneurs, helping them secure $13.2 million in finance and securing 18 contracts worth $40.9 million. These results led to the creation or maintenance of 1,936 jobs in these businesses.