Learn more about the Initiative Foundation's one-time round of funding to invest in Central Minnesota's smallest businesses as they work to recover from the pandemic.
Thanks to a special grant from the Otto Bremer Trust, one-time grants of up to $10,000 will be awarded to businesses that suffered pandemic-related disruptions and losses. This $500,000 program is designed to support fair economic recovery in Central Minnesota by focusing on small businesses that face barriers accessing capital and resources and which suffered setbacks during the pandemic.
This program is designed to support microenterprises with five or fewer full-time employees and less than $750,000 in annual gross revenue. The effort will prioritize …
- businesses owned by women, veterans, and community members of color
- businesses located in small towns and rural areas
- businesses that opened just prior to or in the early stages of the pandemic
- businesses that did not access or were not eligible for prior government COVID relief programs.
The application will open on May 9 and will close at noon on Friday, June 10. Businesses without full-time employees may receive up to $5,000, and businesses with full-time employees may be eligible for up to $10,000.