$64 million in Minnesota Main Street COVID Relief Grants available for businesses: portal opens September 20th

$64 million in Minnesota Main Street COVID Relief Grants available for businesses: portal opens September 20th

The Northland Foundation is spreading the word to Northeast Minnesota businesses about a new opportunity to apply for $10,000 – $25,000 grants

The Northland Foundation is partnering with the Minnesota Department of Employment and Economic Development (DEED) to help Northeast Minnesota businesses learn about and apply for Main Street COVID Relief Grants. The DEED portal to apply will open September 20 and close September 29.

Applicants that qualify and are selected will receive a grant amount between $10,000 and $25,000 depending on the number of full-time equivalent (FTEs) employees on staff. Grants may 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, in the regular course of business.

A total of $64.2 million is available – half of that in Greater Minnesota – for Minnesotan owned and operated businesses that can demonstrate financial hardship due to the COVID-19 pandemic. Other requirements include:

Operate in Minnesota and be majority owned by a resident of Minnesota.

Be a private for-profit business or non-profit organization (that earns revenue in ways similar to a business) with primary operations located in the state of Minnesota since at least January 1, 2020.

Be a currently operating business with plans to continue into 2022.

Be at least 50 percent owned by one or more resident( s) of Minnesota.

Employ the equivalent of 200 full-time workers or fewer.

Total sales or revenue of at least $10,000 for the 2020 or 2019 tax year.

Businesses that are majority-owned by military veterans, women and Black, Indigenous, and people of color individuals; employ 6 people or fewer; and/or did not receive previous assistance from other state relief programs will be prioritized in the selection process.

All the eligibility requirements and application information, including Frequently Asked Questions, can be found on the DEED website: mn.gov/deed/business/financing-business/deed-programs/emergency-programs/main-street/