The next step for DEED COVID-19 Relief Grants for Small Businesses
The Minnesota Department of Employment and Economic Development conducted a lottery for the $64.2 million in grants. Funding was available for Minnesota businesses who suffered during the pandemic. Potential grantees were randomly selected from applications for the Main Street COVID-19 Relief Grants through a lottery process. This was the same process used for the past round of the Small Business Relief Grants. These grants will help thousands of Minnesota businesses recover from a difficult year. This week, DEED notified applicants for the Main Street COVID Relief Grant program whether or not their application has been randomly selected for consideration.
Funding Priorities
This new program provides between $10,000 and $25,000 in grants for Minnesota businesses that demonstrated financial hardship due to the pandemic. The program prioritized businesses that did not previously receive other state relief program funding and those that are majority-owned by veterans, women and Black, Indigenous and people of color. Additionally, it ensures a 50/50 split between the Twin Cities metro area and Greater Minnesota.
Northwest Minnesota Foundation
Within the next 10 business days, Northwest Minnesota Foundation, the organization that is processing grants awards for northwest Minnesota businesses, will begin reaching out to recipients via email to begin working to verify documentation and eligibility. Once approved, those winners will be required to sign a grant agreement before receiving the funds from the grant.
Businesses not selected through the random selection process have been placed on a waiting list. As this process moves forward, spots for applications may become available. If your business is impacted by such a change, DEED will follow up with you by email. In addition applicants can log in the application portal here at any time and see the status of their application.
