The Minnesota Department of Employment and Economic Development (DEED) will begin accepting applications for Main Street COVID Relief Grants Program Monday, Sept. 20.
There will be $64.2 million available in aid for Minnesota-owned businesses who can demonstrate financial hardship due to the pandemic. Half of the funding will be distributed to Greater Minnesota and half will be distributed to the Twin Cities metro area.
“We know many small businesses are still feeling the lingering effects of the darkest days of the pandemic, so we're eager to get this money into their pockets,” DEED Commissioner Steve Grove stated.
Qualified applicants will have the chance to receive $10,000-25,000 in aid based on the number of full-time equivalent employees on staff. The application portal will also open on Sept. 20 and remain open until 11:59 p.m. on Sept. 29.
“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,” according to a DEED release.
The funds will also be divided and distributed among the aforementioned groups as follows: $18 million for businesses with six or fewer full-time workers; $10 million for businesses that are majority owned and operated by Black, Indigenous or People of Color (BIPOC); $2.5 million for businesses that are majority owned and operated by veterans; and $2.5 million for businesses that are majority owned and operated by women.
Two informational sessions will be held on Sept. 14 and Sept. 20.
“We know small businesses are big drivers of the job growth we need in our economy and hope businesses across the state apply for these funds,” Grove stated.