State of Minnesota Main Street COVID Relief Grants Applications Open on September 20th, 2021 at 10am CST.
Business owners: the State of Minnesota is opening a portal for a new program which will make $10,000 – $25,000 grants to Minnesota-owned and-operated businesses that can demonstrate financial hardship as a result of the COVID-19 outbreak.
The portal will open on September 20th, 2021.
This program will make a total $64,200,000 available for grant applications which will be selected for consideration through a computer-generated, random selection process. However, applicants that have not received assistance through previous relief programs will be prioritized for consideration.
These 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.
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
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 are to 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.
These are grants and no repayment will be required.
For more information please visit State of Minnesota website: https://mn.gov/deed/business/financing-business/deed-programs/emergency-programs/main-street/
Posted by Kirill Graminschi: https://www.sunbeltmidwest.com/team/graminschi-kirill
Disclaimer: Sunbelt Business Advisors and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.
