Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
The Otto Bremer Trust, which owns 86 percent of St. Paul-based Bremer Bank, has invested more than $700 million in people, places and opportunities in the Upper Midwest.
The Trust’s investments have gone to organizations supporting minorities, women, youth and more. The organization has found it successful enough to recently form a financial services subsidiary — Community Benefit Beneficial — to consolidate and grow its funding pathways. Small businesses are a major component.
Brian Lipschultz, co-CEO and trustee, Otto Bremer Trust, shared some details on the organization’s efforts with Upsize Managing Editor Andrew Tellijohn.
Tellijohn: How is the Otto Bremer Trust helping entrepreneurs and small business owners start up and grow?
Lipschultz: Entrepreneurship has always been at the forefront of our work. Year in and year out we support organizations that help individuals and small businesses with everything from training to direct financial support. In some cases, we’ve even “endowed” programs to use our reputational capital in addition to financial support.
For example, we know that young people have choices to make in seeking education and future employment and we want to highlight the benefits of entrepreneurship.
That’s why we worked with Junior Achievement to create the Otto Bremer Trust Company of the Year and the Otto Bremer Trust Student Entrepreneur of the Year. Minority communities have plentiful talent but often lack access to capital and support. So, we partnered with the Metropolitan Economic Development Association to create the Otto Bremer Trust Small Business Fund, which makes longer-term investments in minority-owned early stage ventures.
It’s been a huge success.
The growth in this area led to forming Community Benefit Financial to consolidate and grow our funding pathways. Small business remains a major component.
Tellijohn: What types of projects is the Trust investing in and what is it looking for from an organization that wants to apply?
Lipschultz: As noted above, there are a number of projects and organizations we invest in.
We provided a $1 million program-related investment to WomenVenture to address a funding gap for female small business owners. The investment will be used for small business loans for women entrepreneurs who may not have access to traditional lending. Ideally, we’re looking at nonprofit organizations that help specific groups in the community, such as those noted in these examples.
We recently created a credit facility for The Sheridan Story, a program that provides backpack meals for students to help them with access to food over weekends.
Appetite for Change — a fast-growing non-profit focused on healthy food and related training and education — received a financing package from us that will help them with their signature Breaking Bread Café in North Minneapolis and to expand their catering operations throughout the Twin Cities. So, we do both direct and indirect lending. At this point our efforts have centered around support for members of our Upper Midwestern communities that have limited access to critical capital.
Tellijohn: How would an organization get more information about the Trust’s efforts in this area?
Lipschultz: The best place to learn about applying for grants or program-related investments is at:
www.ottobremer.org. We have a section on our guidelines that helps applicants better determine whether they are a fit.
Contact: Brian Lipschultz, co-CEO and trustee for the Otto Bremer Trust: 651.227.8036; in**@********er.org;
www.ottobremer.org.
The use of fractional executives — those hired by companies on contract to work a fraction of the hours at less cost than full-time hires — has been on the rise for years. That accelerated during the COVID-19 pandemic. John Arms, co-founder of Voyageur U, helped establish the organization to help educate free agents on what it takes to make it as a fractional executive. He’s now put that knowledge into print, recently releasing the book “Consult Your Way to a Full-Time Job.” Arms joined Upsize Minnesota Editor Andrew Tellijohn to talk about how the book can help potential fractional executives carve their new paths.
Branding expert Kate DiLeo wrote a book about how branding agencies need to do less storytelling and more listening to better meet their clients’ needs.
