New MN Program Offers $10,000 Small Business Grants
The Minnesota State Legislature created a new program to distribute $62.5 million to businesses affected by COVID-19. DEED will partner with the Initiative Foundation to distribute hundreds of small business grants in Central Minnesota. The grants will be awarded by lottery to locally owned businesses that can demonstrate financial hardship.
Businesses that employ 50 full-time workers or less will be eligible for grants of up to $10,000. There will be special carve-outs for businesses with fewer than six employees, minority-owned businesses, women-owned businesses, veteran-owned businesses and vendors in cultural malls.