Minnesota Main Street COVID Relief Grants: DEED Applications Begin September 20th
Minnesota Main Street COVID Relief Grants to Begin Accepting
Applications September 20;
Informational Resources Available Today
More than $64 million is available in grants for Minnesota businesses that experienced financial
hardship due to COVID-19.
St. Paul – The Minnesota Department of Employment and Economic Development (DEED) will begin accepting applications for the Main Street COVID Relief Grants Program on September 20th. This program was approved by the Minnesota State Legislature and signed by Gov. Tim Walz on June 30, 2021.
A total of $64,200,000 is available in grants for Minnesotan owned and operated businesses that can demonstrate financial hardship due to the COVID-19 pandemic.
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. Funding will be distributed in a 50/50 split between the Twin Cities metro area and Greater Minnesota.
Applicants that qualify and are selected will receive a grant amount between $10,000 and $25,000 based on the number of full-time equivalent (FTEs) employees on staff. To be eligible, businesses must operate in Minnesota and be majority owned by a resident of Minnesota. Additional eligibility requirements and application information can be found at DEED’s Main Street COVID Relief Grants Program page.
“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,” said DEED Commissioner Steve Grove. “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.”
Previous relief programs include the Small Business Emergency Loan program, the Small Business Relief Grant Program, the Movie Theater and Convention Center Relief Grant program, and the County Relief Grant program.
We will be holding informational sessions; please find the dates and details below.
If you have questions, you can email MSCRG.DEED@state.mn.us. We will also be keeping our Frequently Asked Questions updated as we get inquires. Additionally, you will be able to find translated program information on our website in Hmong, Somali, Spanish, and Vietnamese. You can also watch our How To Apply For The Minnesota Main Street COVID Relief Grant video in Hmong, Somali and Spanish.
Applications will be reviewed and awards will be disbursed and administered by qualified local and regionally based nonprofit organizations. Grant funds received by individual businesses shall be used for working capital to support payroll expenses, rent, mortgage payments, utility bills, and other similar expenses that occur or have occurred since March 12, 2020, in the regular course of business.
The application portal will open September 20, 2021 and will accept applications for 10 days after opening. Applications will close on September 29 at 11:59 p.m. Afterward, grant applications will be selected for consideration through a computer-generated, randomized selection process.
DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and its services, visit the DEED website or follow us on Twitter.
Upon request, this information can be made available in alternate formats for people with disabilities by contacting the DEED Communications Office at 651-259-7161.
To qualify, an applicant must:
· Be private for-profit business or non-profit organization (that earns revenue in ways similar to a business) with primary operations located in the state of Minnesota.
· Be at least 50% owned by one or more resident(s) of Minnesota.
· Employee the equivalent of 200 full-time workers or less.
· Be able to demonstrate financial hardship as a result of the COVID-19 outbreak.
· Minimum total sales or revenue of at least $10,000 for the 2020 or 2019 tax year.
In making awards, there are minimum set asides for various targeted groups and categories of businesses.
· 50% of funds will be available for businesses based in Greater Minnesota.
· 50% of funds will be available for businesses based in the 7-county metro area (Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington counties).
· A minimum amount of funds must be awarded as follows:
o $18 million for businesses with six or fewer full-time workers.
o $10 million for businesses that are majority owned and operated by Black, Indigenous, or People of Color (BIPOC).
o $2.5 million for businesses that are majority owned and operated by veterans.
o $2.5 million for businesses that are majority owned and operated by women.
Applicants will receive a grant amount based on the number of full-time equivalent (FTEs) employees on staff.
- $10,000 – 6 FTEs or less.
- $15,000 – Between 7 and 49 FTEs
- $20,000 – Between 50 and 99 FTEs
- $25,000 – Between 100 and 200 FTEs