Farm Credit cooperative Compeer Financial partnered with Southern Minnesota Initiative Foundation to expand the development group’s Rural Entrepreneurial Venture program to small cities across Illinois and Wisconsin.
The program works with selected small towns over a three-year period to develop entrepreneurs through outreach, investment and by building a community ecosystem. The program offers a trained coach, who provides tools and resources to develop and execute strategic priorities.
According to a press release, REV programming has led to initiatives such as youth retention programs and Chambers of Commerce in several Minnesota towns.
“There are innovative individuals and businesses in our rural communities that need extra resources and support,” said John Monson, chief mission officer at the nearly $30 billion Compeer Financial. “Bringing that framework to rural communities creates a ripple effect of thriving residents, towns and regions. We have seen the work that SMIF has accomplished in southern Minnesota and want to help bring those opportunities to others in Compeer’s territory.”