At the New Impact Fund, we share your steadfast commitment to community well-being, self-determination, and the future of small businesses' success.
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Driving Racial Equity Through Small Business—and Actioning Justice

We understand the challenges posed by recent policy changes and funding disruptions, including the proposed elimination of the Community Development Financial Institutions (CDFI) Fund. At the New Impact Fund, we share your steadfast commitment to community well-being, self-determination, and the future of small businesses' success.

 

Our mission remains unwavering. With your investment, we will continue to support Black-owned businesses and founders scaling in historically Black, Asian, Indigenous, and Latino neighborhoods.

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(U.S. Department of the Treasury 2024 Racial Equity Progress Report)

Daija Webb

Investing in Dreams

How Taylor’d Cosmetology and NIF are Transforming Lives

 

With support from the New Impact Fund, Taylor’d Cosmetology School is shaping careers and transforming lives. One standout graduate, Daija Webb, discovered her passion for beauty at the North Minneapolis school, where she found not only rigorous training but also a tight-knit community.

 

"Taylor'd is a real sisterhood," says Webb, who now thrives as a licensed solo esthetician. Since graduating from Taylor'd, Webb started her own business, Pynk Dynasty, where she sees 18 - 25 clients weekly, and has plans to launch a vegan cosmetics line. 

 

Webb’s success is a testament to the power of investing in both businesses and individuals—creating lasting economic impact and opportunities for the next generation of entrepreneurs.

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Fuel BIPOC Business Growth

Loan Funds 5 & 6 Now Open

 

We are actively recruiting for Loan Fund 5 & 6! Join New Impact Fund:   

  • Cohort Membership will meet regularly with their peers for highly curated learning and engagement experiences with talented BIPOC business owners. (This typically involves a commitment of 30+ hours over 6 months.) 
  • Supporting Membership is ideal for those who desire to have a significant impact on BIPOC businesses but prefer a minimal time commitment.  
  • Be the engine of our work by contributing funds to support our operations and enable NIF to expand our reach and capacity.  

Membership in New Impact Fund is a unique opportunity to join a select community of leaders. If you’re driven to make a difference and believe in the power of collaborative investment, we invite you to learn more. 

JBC and JK

J. Benson Construction

Scaling Success Through Vision-Driven Collaboration

 

When Paul Edlund first encountered J. Benson Construction, he was at a crossroads in his career. After 12 years as a criminal defense attorney, the emotional toll of his work had left him searching for a new path. He knew he wanted to own a business, make a tangible impact in his community, and create meaningful jobs—especially for those who had historically been underserved. Through a mix of timing, opportunity, and deep conviction, Paul took the leap, purchasing the company from its previous owner, who was ready for retirement.

 

Fast forward, and Paul now stands at the helm of a growing construction firm with a vision: to build a company that becomes a destination workplace—where employees feel valued, supported, and empowered. In fact, J. Benson Construction and Tri-Construction (another New Impact Fund (NIF) investment) were recognized as two of the largest minority-owned businesses in the Twin Cities, ranked by 2024 revenue. However, as any entrepreneur knows, growth comes with its own set of challenges. That’s where Jeff Kiesel, an accomplished executive and investor with NIF, enters the picture.

 

Jeff, the CEO of Restaurant Technologies, has decades of experience scaling businesses. While building and leading a company with 1,500 employees across the country, Jeff knew he wanted to help entrepreneurs like Paul avoid the pitfalls that can come with growth—not just by investing capital, but by investing time, advising, and connections. Their partnership is becoming a case study in how relationships built through NIF can redefine the paths of both investors and business owners alike.

 

A Meeting of Minds

From the outset, Paul was humbled by the idea of working with Jeff. “Why does this big, successful CEO want to help me?” he initially wondered. But he quickly realized that Jeff’s willingness to guide him was rooted in genuine passion. Jeff, for his part, recognized Paul’s drive and vision. “I had been recently thinking, ‘Where can I continue to get my juice? How can I give back through my purpose of creating good jobs?’” Jeff shared.

 

Paul saw advising as a chance to grow as a leader, and Jeff recognized it as a learning experience for himself as well. “Being a NIF investor gave me an understanding of the barriers that Paul has to overcome that I've never had to overcome.”

 

Through their early conversations, Paul found a reliable partner in Jeff, who provided advice while consistently honoring his leadership.

 

Early Relationship Building

Paul and Jeff’s relationship is being built on trust and mutual respect. Rather than Jeff telling Paul what to do, their discussions revolved around Paul’s goals and how Jeff could provide insights to help him achieve them. “Jeff's experience working at a billion-dollar company is not the same as running a $5 million company,” Paul admitted. “But I also think that there's a lot of universal things that he's seen and done that I can learn from.”

 

Jeff, too, values the exchange. “I think about all the people I will never meet. They'll benefit from our partnership into the future,” he said, recognizing that their work together could create lasting change well beyond their own relationship.

 

To build a strong foundation for their partnership, Paul and Jeff are prioritizing mutual understanding—exploring each other’s strengths, challenges, and motivations—before addressing the operational complexities of scaling J. Benson Construction.

 

Stay tuned for Part 2: Paul & Jeff CEO-to-CEO collaboration

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(2024 State of Women’s Small Business Report)

Corp Event Revel Flourish

Hosting a Special Event?

Revel & Flourish can help!

 

Revel & Flourish, owned and operated by Kristina Kenan along with her business partner Jody Winter, specializes in event planning, event coordination, floral design, decor services, and event rentals.

 

With investment by New Impact Fund,  Kristina and Revel & Flourish achieved significant milestones by relocating to a new location and positioning itself for growth.

 

Joy and inclusivity: Revel & Flourish's foundation.

Lily Yu headshot

The New Impact Fund Team is Growing!

Meet Lily Yu, Program Manager

 

Lily Yu joined our team in December as New Impact Fund’s Program Manager. Lily brings with her over a decade of experience in non-profit program development and management.

 

As part of her role at NIF, she will be focusing on strengthening our impact reporting, and developing a robust pipeline of high-quality deals and prioritizing scalable businesses who have a strong focus on job growth.

 

Lily will be working closely with business owners and cohort members to ensure the smooth implementation of NIF’s social capital program, and to provide consistent support for owners and members.

About_D

The New Impact Fund (NIF) fosters a powerful community of individuals and BIPOC entrepreneurs in the Twin Cities, working together to build a more equitable economy in historically Black, Indigenous, Latino/a, and Asian neighborhoods. We provide transformative capital and strategic networks, fueling small business growth, wealth creation, and economic justice. Join us in creating lasting change.

DISCLAIMER

These resources are provided for educational and information purposes only. Inclusion of any investment opportunities does not suggest an endorsement. You should perform your own research before you make any investment decision.


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New Impact Fund, 5922 Excelsior Blvd., Minneapolis, MN, 55416, 612.723.3235, newimpactfund.org, EIN: 46-5187324

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