Fortis Capital

What Fortis Capital does

Fortis Capital is a 501(c)(3) nonprofit economic development finance organization headquartered at 333 Washington Ave N in Minneapolis, Minnesota. Founded in 2019 by Brian Smith (Founder & CEO), the organization provides debt capital and financing programs to small businesses in systemically underserved communities, with a particular focus on BIPOC-owned and operated enterprises. Its core offering is a four-program lending suite: the Participation Loan Program, Line of Credit Guarantee Program, 2% Forgivable Loan Program, and the Commercial Property Development Fund (CPDF) Loan Program, collectively addressing working capital, credit lines, forgivable capital, and commercial real estate development needs. The organization reports issuing $4M+ in loans and creating 314 jobs, including 77 in project-based construction.

The business operates on a community-led go-to-market model in which Fortis Capital extends financing to borrowers primarily through a co-underwriting network of banks, Community Development Corporations (CDCs), and Community Development Financial Institutions (CDFIs). These partners identify eligible borrowers, share lending risk, and broaden Fortis Capital's reach beyond what a 1-10 person team could achieve directly. In addition to lending, the organization offers Economic Development Consulting and Process Improvement & Innovation consulting and technical assistance services, encompassing guidance, training, assessment, and program/product creation for client organizations. Revenue mechanics are not publicly disclosed; the organization leverages capital from public, private, and nonprofit sources (including donations channeled via GiveMN) and operates as an independent nonprofit with no parent company or subsidiaries.

No proprietary technology platform, AI/ML capabilities, API, or integrations are disclosed in the source material. Distribution is regional (Minneapolis and surrounding markets), with strategic and minor corporate partnerships (notably M. A. Mortenson Companies) supporting outreach and credibility. The organization's competitive position is anchored in its nonprofit status, mission-aligned community trust, and the depth of its bank/CDC/CDFI partner network rather than in technology differentiation.

Name

Fortis Capital

Legal name

Fortis Capital

Website

https://fortiscap.org

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Fortis Capital is a Minneapolis-based 501(c)(3) nonprofit economic development finance organization that provides debt capital and financing programs to BIPOC-owned and underserved small businesses, distributing loans through partner banks, CDCs, and CDFIs.

Ownership category

akta.pro rank

Product category

Community Development Finance

NAICS

Depository Credit Intermediation (5221)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

SME Term Loans & Growth Capital (FSAKAGAB)

Keywords

• Community development finance
• Small business lending
• BIPOC business financing
• Nonprofit microlending
• Economic development consulting

Headquarters

HQ city

Minneapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Loan Program Administration: Fortis Capital operates as a 501(c)(3) nonprofit organization engaged in economic development finance. The organization issues loans to underserved businesses and leverages capital from public, private, and non-profit sources to support community business development.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Fortis Capital is a 501(c)(3) nonprofit corporation engaged in economic development finance in Minneapolis, providing debt capital to BIPOC-owned and other systemically underserved business owners. It operates four core loan programs — Participation Loans, Line of Credit Guarantees, 2% Forgivable Loans, and Commercial Property Development Fund loans — and offers Economic Development and Process Improvement & Innovation consulting and technical assistance.

Product overview

Fortis Capital is a non-profit economic development finance organization that operates as a unified platform providing debt capital access to systemically underserved businesses, particularly BIPOC-owned enterprises. The portfolio consists of four core loan products—the Participation Loan Program, Line of Credit Guarantee Program, 2% Forgivable Loan Program, and Commercial Property Development Fund (CPDF) Loan Program—which work together to address different financing needs from working capital to commercial real estate development. Additionally, the organization offers consulting and technical assistance services in Economic Development and Process Improvement & Innovation, providing guidance, training, and program creation support to client organizations. The organization leverages partnerships with banks, CDCs, and CDFIs to share financial risk and extend credit reach.

Differentiator

Problem solved

Functional benefit

Products and services

• Participation Loan Program A loan program in which Fortis Capital participates alongside other lenders to provide financing to BIPOC business owners who are systemically underserved by traditional lending institutions.
• Line of Credit Guarantee Program A program that guarantees lines of credit for eligible business owners, mitigating lender risk and enabling working-capital access for underserved entrepreneurs.
• 2% Forgivable Loan Program A loan program offering forgivable financing at 2% interest, providing accessible capital to BIPOC business owners to support economic development in underserved communities.
• Commercial Property Development Fund (CPDF) Loan Program A specialized loan program focused on commercial property development, providing financing to support real estate acquisition and development for underserved business owners.
• Economic Development Consulting Specialized consulting and technical assistance focused on economic development, providing guidance and support to organizations addressing development needs in underserved communities.
• Process Improvement & Innovation Consulting Technical assistance and consulting providing guidance, advice, training, assessment, and program/product creation to help organizations address operational challenges and development needs.

Quantifiable outcome

• Issued $4M+ in loans to businesses, majority BIPOC owned and operated
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• Community Development Corporations (CDCs) - UnspecifiedcoreStrategic or Co-development PartnerCDCs play a crucial role in making Fortis Capital's financial programs possible. These organizations help identify eligible businesses in underserved communities and contribute to the organization's economic development mission.
• M. A. Mortenson Companies, IncminorStrategic or Co-development PartnerM. A. Mortenson Companies is referenced as a partner organization. Mark Mortenson of M. A. Mortenson Companies has provided a testimonial supporting Fortis Capital's work in economic development and community growth.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Coastal Enterprises Inc (CEI): CDFI providing small business loans, consulting, and policy advocacy to underserved entrepreneurs — comparable full-stack nonprofit lender and technical assistance provider.
• CDC Small Business Finance: Nonprofit SBA-focused small business lender providing SBA 504 and 7(a) loans to underserved borrowers — comparable nonprofit mission-driven lending model.
• Grameen America: National nonprofit microfinance organization providing small-dollar loans to entrepreneurs in underserved communities — directly comparable mission, loan products, and target demographics.
• TruFund Financial Services: National nonprofit CDFI offering small business loans and capacity building to underserved and minority-owned businesses across multiple states — direct comparable in mission and product.
• Pacific Community Ventures (PCV): Nonprofit community development financial institution focused on small business lending and advisory for underserved entrepreneurs in California — comparable nonprofit CDFI model.

Broad incumbents

• National Community Investment Fund (NCIF): National CDFI intermediary and investor in mission-driven banks and community lenders — analogous ecosystem-building role that benefits Fortis-type organizations.
• Capital Impact Partners: National CDFI providing loans, investments, and capacity-building to communities of color and under-resourced markets — comparable in CDFI structure, mission, and partner-bank delivery.
• Local Initiatives Support Corporation (LISC): National CDFI providing loans, equity, and capacity-building to underserved community businesses — a much larger incumbent with overlapping mission and partner-bank model.
• Opportunity Finance Network (OFN): National membership and intermediary for CDFIs; while not a direct lender, it is the closest trade body governing organizations of Fortis's type and channeling capital to them.

Regional players

• CDFI Friendly Minnesota: CDFI collaborative operating in Minnesota to expand capital access for underserved businesses — directly comparable mission and geography to Fortis Capital.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/fortis-capital-mn

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fortis Capital