Applications for Minnesota Small Business Relief Grants Due July 2
The Minnesota Department of Employment and Economic Development (DEED) is overseeing the Minnesota Small Business Relief Grants Program, which makes grants in the amount of $10,000 available to Minnesotan owned and operated businesses that have suffered hardships due to COVID-19. The grants should be used to support payroll, rent, mortgage payments, utilities, and other expenses businesses have incurred since March 1, 2020. These funds are grants and do not have to be repaid. A total of $60.3 million is available through this grant program. The due date to apply for these grants is 5:00 p.m. on Thursday, July 2.
In order to be eligible for a Minnesota Small Business Relief Grant, an applicant must:
- Be a private for-profit business that has a permanent physical location in Minnesota
- Be majority owned by a permanent resident of Minnesota
- Be in good standing with the Minnesota Secretary of State and the Minnesota Department of Revenue as of March 1, 2020
- Employ the equivalent of fifty (50) or fewer full-time workers
- Be able to demonstrate financial hardship as a result of the COVID-19 outbreak.
In making awards, DEED has set aside various amounts for targeted groups and categories of businesses. Half of the funds will be awarded to businesses in greater Minnesota and half of the funds will be awarded to businesses based in the 7-county metro area (including Anoka, Carver, Dakota, Hennepin, Ramsey, Scott and Washington Counties). Next, DEED allocated certain funds for small businesses (6 or fewer full-time employees); for businesses owned and operated by women, minorities, or veterans; and for businesses with an ethnic cultural emphasis.
There are two major exceptions to eligibility for the Minnesota Small Business Relief Grants:
- Home-based businesses (except for licensed child care providers) are not eligible; and
- Businesses that received funding under the Small Business Emergency Loan Program are not eligible (however, businesses that received funding through various Small Business Administration loan programs are still eligible).
The Application for the Minnesota Small Business Relief Grants will ask various questions regarding who owns the business, where the business (and owner) is located, how many full-time employees the business has, whether the business is active with the Secretary of State, and other similar questions to determine eligibility. Detailed and complete answers will allow DEED to better determine eligibility. Applications must be submitted online through Minnesota Small Business Relief Grants Website.
The W&H team is prepared and available to assist you with your Minnesota Small Business Relief Grant applications. We are here to answer any questions and to provide assistance with any other needs you may have. Please contact Morgan Kavanaugh at email@example.com or Christopher Johnston at firstname.lastname@example.org for more information.