Minnesota awards companies through grant relief program
ST. PAUL, Minn. — The Minnesota Department of Employment and Economic Development (DEED) said on Friday, July 17 that it has completed the lottery drawing for the winners of the Small Business Relief Grant Program.
The program will award $10,000 grants to small businesses that have suffered financial hardship as a result of the COVID-19 pandemic, and was passed with bipartisan support in the Minnesota Legislature.
“Small businesses across our state have faced immense hardships due to COVID-19,” DEED Commissioner Steve Grove said in a statement on Friday. “This has been a truly coordinated effort across state government and our nonprofit partners to quickly get these dollars out to businesses in need and help our communities, and we’re pleased to say that the support is coming soon.”
More than 27,400 individual businesses applied for grant funding, including:
· 9,740 women-owned businesses (35% of all applicants)
· 5,535 minority-owned businesses (20% of all applicants)
· 1,340 veteran-owned businesses (5% of all applicants)
· 19,197 businesses with 6 or fewer employees (70% of all applicants)
As required by the authorizing legislation, DEDD said in the news release, winners were selected by a randomized selection process.
The grants can be used by eligible grantees for working capital to support payroll expenses, rent, mortgage payments, utility bills, and other similar expenses that occur or have occurred since March 1 in the regular course of business. Businesses will be contacted directly by the nonprofit charged with administering their grant.