MN DEED has just launched the Small Business Relief Grants Program, which will make available $10,000 grants to Minnesotan owned and operated businesses that can demonstrate financial hardship as a result of the COVID-19 outbreak. A total of $60.3 million is available for grant awards which will be selected through a computer-generated, randomized selection process.
Awards will be disbursed and administered by qualified local and regionally based nonprofit organizations. Grant funds received by individual businesses shall 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 1, 2020, in the regular course of business. These are grants and no repayment will be required.
The application period will begin on Tuesday, June 23 and close at 5:00 p.m. on Thursday, July 2. Additional eligibility requirements and application information can be found online at DEED’s Small Business Relief Grants page.