Newsmakers: Hennepin County Launches Program To Help Small Business Owners Buy Real Estate

Hennepin County Community Investment Manager Ryan Kelley said the county is expanding its support for small businesses through a new pilot initiative aimed at helping owners purchase commercial real estate.

“It’s a struggle for small businesses and owners to owning their own real estate and that can have financial impacts, but also getting into it is really not what most business owners are focused on,” said Kelley.

The Commercial Ownership Assistance program launched just weeks ago and builds on the county’s Elevate Hennepin business support network. The program is meant to respond to a long-standing challenge: many small businesses struggle to buy and manage their own space.

Kelley said small business owners are focused on running their operation, whether it’s a restaurant or retail establishment, and not necessarily on real estate.

“They aren’t focused on property ownership and management long term, so we developed this program to work with business owners on navigating that initial acquisition phase,” said Kelley. 

After an application process, the program connects eligible business owners with commercial real estate experts who can analyze building conditions, financial considerations, code issues and long-term maintenance needs — giving entrepreneurs clearer insight before making a major investment.

While still new, Kelley notes early interest is growing as the county works with cities and community partners to spread the word.

You can learn more through the Hennepin County Commercial Ownership Assistance website.

See also: Hennepin County Swap-It Event Helps Deck the Halls at a Discount

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