MN PROMISE Act Grant

Helping disadvantaged businesses reach their full potential

Round 2 is coming soon! Click below to view the updated program guidelines and see how you can start preparing your documents.

  • 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.

  • 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.

  • Location

    MN PROMISE Act is for eligible areas of Minneapolis and Saint Paul. Use the map to determine if your business is within the geographic area and eligible to apply for the MN PROMISE Act.

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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.

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.