Fortis Capital is a Minnesota non-profit corporation formed in August of 2019. Fortis is engaged in economic development finance in and for the City of Minneapolis, with an emphasis on providing access to debt capital for businesses owned by persons of color and in challenged communities. The Company received its 501(c)(3) status in February 2020. Located in Minneapolis, the Company has secured preliminary loan funding in the total amount of $2.5 million from Living Cities and from the City of Minneapolis.
Our team is comprised of Directors, Partners and volunteers that are focused on the mission of Fortis Capital.
Our charitable purpose and mission is to foster and support economic development in challenged communities and for disadvantaged persons, primarily in the city of Minneapolis, Minnesota.
Bridging the “access to capital” gap is possible. We’ve done it before.
Our board and leadership team bring years of experience to bear on one of the greatest challenges of this unique time. We’re results driven, with a proven record of previous successes.
Ready to take the next step?
The time for action is now. With the help and support of Living Cities, we’ve got a good start. We need your help to move into action and assist with some of the most critical needs in the greater Minneapolis area.
Access to capital in certain areas of Minneapolis (in particular, North Minneapolis and the Minneapolis Promise Zone) is limited compared to other parts of the City. The objective of Fortis Capital is to make financial, knowledge and social capital increasingly more available to these and other under served areas. The following objectives comprise a developing list of targeted goals/outcomes:
The Fortis Capital Participation Loan is similar to the City of Minneapolis Participation Loan model where the partner lender will approve the potential credit for participation loans, based on their own standard banking analysis: capacity to pay, credit history, conditions, etc. Fortis Capital will then complete its own review of the credit request. Fortis Capital will reach borrowers that would not qualify otherwise, based on its higher participation percentage and the risk mitigation factor from the bank partner’s point of view. Fortis Capital will also reach borrowers that would not qualify for other financing, given its much higher maximum loan level, currently $250,000.
Fortis Capital will serve businesses who need higher loan participation based on collateral deficiencies or credit deficiencies. Fortis Capital will purchase up to a 75% participation in partner approved loans.
Brian brings more than 20 years of professional experience in the public and private sectors to the Innovation Team. His background includes work in nonprofit management, county government, for-profit business development, policy consultation, fundraising, lobbying and reform efforts in juvenile justice, human services, health, transportation and education.
Before joining the City, Brian was owner and president of the Institute on Culture and Policy, a policy consulting firm dedicated to eliminating racial and ethnic disparities through systems change and community engagement. While maintaining his leadership role with the Institute on Culture and Policy, Brian also served as the State of Minnesota’s coordinator for the Juvenile Detention Alternatives Initiative for four years.
Jim has over 30 years of professional experience in banking and economic development. His background includes 12 years with Wells Fargo in various roles, leaving the bank as Vice President of Diversity Sourcing. Jim received his Certified Economic Developer (CEcD) designation in 1988. His experience includes revenue bond financing, commercial & consumer lending, SBA lending, business plan authoring, and seed capital financing.
Jim is a graduate of the Pratt Institute Internship in Community Economic Development and a member of the inaugural Minnesota Chapter of the Society of International Business Fellows. He is also a Rose Center Equitable Economic Development Fellow. He has served on numerous boards, including being a founding board member of the Minneapolis/Saint Paul/Bloomington Foreign Trade Zone. Jim is currently serving as Chair of the board of Amplio Economic Development Company, and on the board of the Minnesota Economic Development Foundation (MNEDF), and on the Loan Portfolio Review Subcommittee of the Metropolitan Consortium of Community Developers (MCCD), a Minneapolis-based CDFI. He is the creator of the City of Minneapolis Commercial Property Development Fund (CPDF).
Shawn serves as the Director of Project Development for Premier Housing Management and Development. He implements the Company’s development strategy which entails the acquisition, rehabilitation, and repositioning of affordable housing assets in the upper Midwest. He also identifies new development opportunities that contribute to community growth and respond to emerging housing trends.
Prior to joining Premier, Mr. Huckleby worked for the Department of Housing and Urban Development as the Director of Community Planning and Development and Deputy Field Office Director of the Minnesota HUD Office. He also directed a state-wide initiative that addressed home ownership disparities for emerging markets and served as the Vice President of the Twin Cities Community Land Bank.
Andrea is a dynamic multi-sector leader with nearly 15 years of experience leading teams, strategy, analysis, and management operations in business, city government, and non-profit organizations. Andrea currently is the Director of Operations for Grants and Reporting at Cargill. Andrea Leads grant operations, evaluation, and reporting, strategically guiding Cargill’s philanthropic investments to optimize social impact, business integration and geographic distribution.
Andrea previously served as the Deputy City Coordinator for the City of Minneapolis, leading strategic management for the city government. In this role, she created and implemented the City’s first Racial Equity Action Plan and led public safety efforts around alternatives to police response. Andrea also worked in the private sector for the Target Corporation in Corporate Social Responsibility and as a Merchandise Buyer, and served as a Graduate Policy Fellow for the Northside Achievement Zone, a nonprofit focused on racial equity and support of low income families.
Our Partners & Supporters
Forts Capital is proud to have partnerships with and support from a number of strong local and national organizations and individuals.
Fortis Capital partnered with Sunrise Banks to assist 1200 KMA Development, LLC purchase their building at 1200 West Broadway, in North Minneapolis. This project was also supported by the Commercial Property Development Fund (CPDF).
Fortis Capital partnered with Neighborhood Development Center (NDC) and other partners to structure a financial package for TRI-Construction as they expand and look forward to moving to their new building in North Minneapolis.
Fortis Capital partnered with Neighborhood Development Center (NDC) and the Venn Foundation to help Lutunji's Palate expand into their exciting new bakery / cafe at 1400 Park Avenue South.
Fortis Capital partnered with Sunrise Banks to assist Honeycomb Salon purchase their building at 3504 Nicollet Avenue. This project was also supported by the Commercial Property Development Fund (CPDF).
Fortis Capital partnered with Sunrise Banks to assist Mayfield Real Estate Holdings purchase their building at 4601 Lyndale Avenue North. This project was also supported by the Commercial Property Development Fund (CPDF).
Fortis Capital partnered with NextStage to assist The Copper Hen Cakery as they grow under new ownership in the City of Minneapolis.
Fortis Capital has a number of businesses it is currently working with on projects in Minneapolis.
Please consider supporting our work by donating funds to Fortis Capital.
How Can You Help?
Please consider making a donation to assist Fortis Capital grow and help more businesses in the Greater Minneapolis – Saint Paul area.
Fortis Capital is initially seeking growth in two phases:
Here’s how you can help with our goals . . .
Please contact Jim Terrell to learn how we can accept these additional types of gifts: email@example.com or (612) 389-1800.
Fortis Capital is a 501(c)(3) non-profit corporation.
Fortis Capital’s EIN tax ID is # 84-2716465.