Compeer Financial Joins SMIF for Rural Entrepreneurial Venture Program
For Immediate Release
Contact:
Nora Nolden, Communications Consultant
[email protected] or (651) 245-6804
Compeer Financial Joins SMIF for Rural Entrepreneurial Venture Program
Partnership expands programming in Ill., Minn. and Wis.
Sun Prairie, Wis., (March 8, 2023) – Compeer Financial is pleased to announce a new partnership for rural economic development with Southern Minnesota Initiative Foundation (SMIF). The partnership will expand SMIF’s Rural Entrepreneurial Venture (REV) program to small towns in southern Minnesota, Wisconsin and Illinois.
The REV program works with selected small towns over a three-year period. It takes a targeted approach to entrepreneurial development through outreach, investment and community ecosystem building. The participating communities are supported through a trained REV coach, who gives them the tools and resources they need to develop and execute entrepreneur-led strategic priorities.
The REV framework has a proven record of accelerating entrepreneurial activity across the U.S. For the last six years, REV programming has activated entrepreneurial-led economic development in Minnesota communities like Blue Earth, Lanesboro, Le Sueur, Springfield, Spring Grove, Spring Valley, Mapleton, Montgomery and Wells. These communities have each developed their own approach to economic development, from youth retention programs to the launch of Chambers of Commerce.
Compeer’s financial commitment will significantly expand the REV program. This collaboration will encourage more southern Minnesota communities to join the REV cohort and will foster additional opportunities for communities in Wisconsin and Illinois.
“We know that there are innovative individuals and businesses in our rural communities that need extra resources and support,” said John Monson, chief mission officer at 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.”
“We are excited to work with Compeer’s team to identify and work with communities that demonstrate entrepreneurial readiness,” said Pam Bishop, SMIF’s vice president of economic development. “We have experienced firsthand the impact of this work in communities dedicated to this framework. At the end of the day, every business has started in a basement, kitchen or garage. Acknowledging these individuals, understanding their needs and helping them find the resources at the right time, are all essential building blocks that lead to transformative community change.”
To learn more about the REV program, visit smifoundation.org/REV or contact Pam Bishop at 507-214-7013 or [email protected]
About Compeer Financial
Compeer Financial is a member-owned Farm Credit cooperative serving and supporting agriculture and rural communities. The $29.7 billion organization provides loans, leases, risk management and other financial services throughout 144 counties in Illinois, Minnesota and Wisconsin. Based in the Upper Midwest, Compeer Financial exists to champion the hopes and dreams of rural America, while providing personalized service and expertise to clients and the agriculture industry.
Compeer Financial is the third largest cooperative of the Farm Credit System, a nationwide network of lending institutions supporting agriculture and rural communities with reliable, consistent credit and financial services. Learn more about Compeer Financial.
About Southern Minnesota Initiative Foundation
Southern Minnesota Initiative Foundation (SMIF), a donor-supported foundation, invests for economic growth in the 20 counties of south central and southeastern Minnesota. The Foundation has provided more than $154 million in grants, loans and programming within the region during the past 37 years. SMIF's key interests include economic and early childhood development and community vitality. To learn more about our work and mission, visit www.smifoundation.org.
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