The Minnesota Legislature passed the Small Business Relief Grants Program. The program approved approximately $62 million for grants to Minnesota small businesses that have been impacted by the pandemic.
SMALL BUSINESSES CAN APPLY FOR RELIEF GRANTS
The Minnesota Small Business Relief Grant Application went live yesterday, June 23, 2020. Businesses may apply for the $10,000 grant if the following are met:
- Minnesota company with Minnesota owners.
- Total business revenue between March 1, 2020 and May 31, 2020, declined by 10 percent or more as a result of COVID-19, compared to the same period in 2019.
- Less than 50 employees.
The grant is based on a lottery system, and businesses do not need to attach any documents to apply. However, if you receive the grant, documentation will be required.
The application must be completed online and is available on the MN Employment and Economic Development Website.
Applications will be accepted until 5:00 pm on Thursday, July 2, 2020. Following the deadline, the state will conduct a lottery to determine which applicants will receive funds.
Additional information needed to apply:
- Revenue between March 1, 2019 and May 31, 2019
- Revenue between March 1, 2020 and May 31, 2020
- Number of full-time employees and the number of part-time employees
Questions about the relief grant application?
Smith Schafer can help you leverage opportunities and make the best decisions for your company. For additional information and guidance, please contact us at [email protected].