MN PROMISE Act Grant
Helping disadvantaged businesses reach their full potential
Round 2 of the MN PROMISE Act Grant for Minneapolis and Saint Paul is open now. The deadline to apply is December 14.
Click below to start your application.
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Updated Guidelines
Under the new understanding of the law, DEED has updated the program eligibility. To read the updated eligibility criteria, please visit DEED’s website.
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Prep Taxes
Applicants must submit their most recently filed tax return showing gross annual revenue of $750,000 or less. The latest tax filings (e.g., 2023 or 2024) will determine the grant amount. A year-over-year drop in gross revenue of 10% or more between 2023 and 2024 may result in an additional preference score. Read more here.
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Location
Use the map to determine if your business is within the geographic area and eligible to apply for the Minneapolis/St Paul MN PROMISE Act.
For PROMISE Act grants in Greater Minnesota, visit DEED’s website and click on the Partners/Service Area tab. -
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PROMISE
Providing Resources & Opportunity
while Maximizing Investments in Striving Entrepreneurs.
MN PROMISE Act is a new state-funded small business revitalization program that will provide grants and loans to disadvantaged businesses located in certain areas of Minneapolis, Saint Paul and greater-Minnesota.
To view the full text of the Minnesota legislative bill, click here.
Vision Statement
We are a transparent steward of equitable distribution of resources that will empower and equip entrepreneurs in our most disadvantaged communities and enable them to prevail.
Metro
Grant Program
Neighborhood Development Center (NDC) is distributing $72 million in grants to small businesses across North and South Minneapolis, and Saint Paul.
Metro
Loan Program
Metropolitan Economic Development Association (MEDA) is distributing $22.2 million in loans to small businesses across North and South Minneapolis, and Saint Paul.
Greater MN
Programs
Minnesota Initiative Foundations manages the Greater-Minnesota grant and loan programs through six partner organizations, each serving a specific region.