Minnesota Small Business Relief Grants Available
On June 23, 2020, the Minnesota Department of Employment and Economic Development started accepting applications for grants to Minnesota owned and operating businesses that can demonstrate financial hardship due to the pandemic. The Minnesota legislature has allocated over $60 million in grant funds. The application process goes through July 2, 2020, and recipients will be selected randomly through a lottery.
Grant funds can be used for working capital, payroll, rent, mortgage payments, utilities, and other similar expenses that were incurred since March 1, 2020 in the regular course of business.
Grants are limited to Minnesota for-profit businesses that employ 50 or fewer fulltime workers and can demonstrate financial hardship as a result of the Covid-19 pandemic. The application is online and available at https://survey.mn.gov/s.asp?k=159231705518.
If a business received funds under the Small Business Emergency Loan (SEBL) program, is a non-profit organization, or is a home-based business (except child-care providers), they will not be eligible for this grant. There are other disqualifications, which are described in the application itself, including businesses that derive income from passive investments without operational ties to operating businesses, businesses earning more than half of their annual net revenue from lending, businesses engaging in activities prohibited by federal law (among other disqualifying factors). Businesses that have received a PPP loan or EIDL loan may still be eligible for this grant. Grant recipients will receive communication from MN DEED in mid-July.