Sunrise Banks is a Founding Sponsor of MNvest
Sunrise Banks is an innovative community-involved bank, serving the most underprivileged communities in the Twin Cities area and empowering them to thrive. This focus on community is exactly why Sunrise supports MNvest. MNvest allows people to be even more involved in their local communities by providing a viable avenue for small and medium sized businesses to get access to capital. By supporting these businesses, people can be more directly involved in economic growth in their own backyard.
“One need that comes out of our community of small businesses is lack of capital whether that’s to grow beyond a first stage or a second stage,” David Reiling, CEO, explained. “There are big opportunities for both women-owned and minority-owned businesses to access capital by leveraging the community and family structures in a way that is legally structured and transparent.”
Crowdfunding is an alternative option giving small businesses more chances to succeed. It gives new businesses or ideas the ability to get off of the ground and raise equity resulting in community growth.
How It Works
MN-based companies (known as Issuers) post their investment Offerings on web “Portals” registered with the Minnesota Department of Commerce. Portals will vet and ultimately host select “Offerings” on their websites. Prospective investors will then review Offering documents and if interested may proceed to the investment stage. Funds will be held in escrow until the Issuer has reached the minimum Offering amount and is able to hold a “Closing.”