Below are some links to loans and grant programs to help your business.
MN Small Business Relief Grants (new)!
The Minnesota Department of Employment and Economic Development (DEED) will oversee the Minnesota Small Business Relief Grants Program approved by the Minnesota State Legislature and signed by Gov. Tim Walz on June 16, 2020.
This program 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.
If your business plans to apply, check here after 10:00 a.m. on Tuesday, June 23, for the online grant application link. Applications will be accepted BY LAW FOR A 10-DAY PERIOD BEGINNING Tuesday, June 23 through Thursday, July 2. Meanwhile, you can review eligibility criteria, see frequently asked questions and see what types of questions will be on the application.
Comparison of Loan/Grant Programs Available
Small Business Administration Resources
MN Dept. of Employment and Economic Development Resources
- City of Minneapolis Forgivable, No-Interest Loan: $5,000-$10,000 forgivable, no-interest for small businesses and self-employed people with fewer than 20 employees or under $1 million in revenue and located in certain parts of the city.The deadline is
Monday, April 20 at 12:00 p.m. (Noon). Apply today!