Application Period Opens for Minnesota Small Business Relief Grants

June 23, 2020 through July 2, 2020 is the 10-day application period for the Minnesota Small Business Relief Grants Program approved by the Minnesota State Legislature and signed by Gov. Tim Walz on June 16, 2020. The Minnesota Department of Employment and Economic Development (DEED) will oversee the grant program.

Individual small businesses that can demonstrate financial hardship as a result of the COVID-19 pandemic can apply for $10,000 grants. A total of $60.3 million is available for grant awards which will be selected through a computer-generated, randomized selection process.

Businesses can use the grant funds 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. No repayment will be required.

Eligible businesses must be a private for-profit business with a permanent physical location in Minnesota, employ 50 or fewer full-time workers, and be majority-owned by a permanent resident of Minnesota. The business must be in good standing with the MN Secretary of State and the MN Department of Revenue as of March 1, 2020.

The program has set aside award amounts for various target groups and business categories. Half of the funds will be available for businesses based in Greater Minnesota and 50% of the funds will be available for businesses based in the 7-county metro area (Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington counties).

Additional details regarding the award amounts, eligibility requirements, and application details with FAQs can be found at the DEED Small Business Relief Grants page.