$10,000 to $25,000 grants will be available to Minnesotan owned and operated businesses that can demonstrate financial hardship as a result of COVID-19. Minnesota DEED will oversee the program and partner with the Initiative Foundation to administer and disburse funds in Central Minnesota. The program will award $64.2 million through a computer-generated, randomized selection process. Businesses may receive a grant amount based on the number of their full-time equivalent (FTE) employees.
- $10,000 – 6 FTEs or less.
- $15,000 – Between 7 and 49 FTEs
- $20,000 – Between 50 and 99 FTEs
- $25,000 – Between 100 and 200 FTEs
Grant funds must be used for working capital to support payroll expenses, rent, mortgage payments, utility bills, and other similar expenses that occur or have occurred since March 12, 2020. Applicants that have not received assistance through previous relief programs will be prioritized for consideration. These programs include the Small Business Emergency Loan program, the Small Business Relief Grant Program, the Movie Theater and Convention Center Relief Grant program, and the County Relief Grant program.
