The following information is intended to help you prepare for your MN PROMISE Act Grant application It includes the questions that will be on the application and lists the documents you will be required to upload as a part of the process. Use of the word "business" in this worksheet is inclusive of nonprofit organizations, unless otherwise stated. This list may change as new information becomes available. *Last updated: December 10, 2024
Applicant Contact Information The applicant must be authorized to sign grant closing documents on behalf of the organization.
Applicant Full Legal Name
Mobile Phone
Full Legal Name of Business
Email Address All communication regarding your application will come by email. Please check your spam or junk folder. Sometimes our emails may end up there by mistake. To ensure you receive all future updates and notifications, please mark our emails as "Not Spam" or move them to your inbox.
Applicant Photo ID Applicants will be required to provide their identification at two stages of the application process:
Pre-application: If approved to proceed after the pre-application stage, applicants will perform an identity verification. They will be asked to capture a photo of their state or federal-issued ID AND take a clear photograph of themself with their mobile phone.
In the application portal, applicants will also be required to upload a clear image of their ID.
Minnesota-issued Identification – Driver’s License or State ID Card
Federal-issued Identification – US Passport or Passport Card
Business Partner Names: List additional business owners who own at least 20% of the business
Eligible Business Information Information must match the legal name on submitted tax filing documents. Applicants will be asked to upload copies of their Minnesota and Federal tax returns. Applicants can submit returns from 2021 and 2022 or 2022 and 2023.
If your business was in operation in 2021: Submit your 2021 tax returns for eligibility verification.
If your business was not in operation in 2021: Submit the tax return for the year closest to 2021 (e.g., 2022 or 2023).
*Changes will occur according to the State of Minnesota as the PROMISE Act program progresses.
How is this business structured?
Sole Proprietor (1040 Schedule C)
Single Member Limited Liability Company
Limited Liability Company filing as a corporation
Business Corporation
Cooperative
Limited Partnership
Limited Liability Partnership
Nonprofit Corporation
What year did this business first file business taxes?
What is your Business Tax Identification Number (TIN)
If sole proprietor, enter your Social Security Number (SSN) or International Tax Identification Number (ITIN). If a registered business, enter your Employer Identification Number (EIN) and MN Tax ID
What was this business' gross annual revenue?
What was your business' net income?
Tax Form References
Sole Proprietor or Single Member Limited Liability Corporation (LLC) Form 1040, Schedule C | Gross Revenue/Gross Sales: Line 3 | Net Income (Minus COGS): Line 31
Cooperative Form 1120-C | Gross Revenue/Gross Sales: Line 1c | Net Income (Minus COGS): Line 27
S-Corp Form 1120-S | Gross Revenue/Gross Sales: Line 1c | Net Income (Minus COGS): Line 21 (2021 or 2022) or Line 22 (2023)
C-Corp Form1120 | Gross Revenue/Gross Sales: Line 1c | Net Income (Minus COGS): Line 30
Limited Liability Partnership or Limited Partnership Form 1065 | Gross Revenue/Gross Sales: Line 1c | Net Income (Minus COGS): Line 22 (2021-2022) or
Line 23 (2023)
LLC Use one of the above, according to your business structure or tax form
Nonprofit Form 990 Total Revenue: Line 12 | Revenue Minus Expenses: Line 19
Nonprofit Form 990-EZ Total Revenue: Line 9 | Revenue Minus Expenses: Line 18
Eligible Business Operating Address: You will be asked to upload legal business document(s) clearly demonstrating operation from an operating address within MN PROMISE Act eligibility area. Only documents listed here will be accepted. Please note: Only documents from the most recent year of filing will be accepted.
Operating Business Address
What are you using as proof of eligible operating address?
State or Federal Tax Document
Utility Bill
Business Licensure
Business Lease Agreement
Eligible Use: MN Promise Act was passed to help underinvested businesses – and their surrounding communities in key neighborhoods of Minneapolis and St. Paul – thrive. How will these funds help the ongoing success of your business and revitalization of your community? How will they help you achieve your long-term goals? Applicants will be asked to share 1-2 paragraphs.
Applicants will be asked to list what percentage of the grant funds will be used for each of the following eligible uses. * Other = similar expenses that occur in the regular course of business.
Payroll
Rent / Mortgage
Utilities
Equipment
Other*
Resource and Document List These are the documents you will need, and information you must know, about your business when applying for a MN PROMISE Act Grant.
Government-Issued Photo ID (showing applicant legal first and last name)
Proof of Operating Business Address (legal document, such as a lease or business licensure)
Two years of Federal and MN State tax returns
2021-2022 or
2022-2023
If your business was in operation in 2021: Submit your 2021 tax returns for eligibility verification.
If your business was not in operation in 2021: Submit the tax return for the year closest to 2021 (e.g., 2022 or 2023).
MN Secretary of State Business File Number, unless sole proprietor
Name(s) of all business partners, who own 20% or more of applying businesses.Tax Identification Number(s)
Sole proprietor: SSN or ITIN
Registered business: Federal EIN and MN State Tax ID
Voided check: If awarded, grant funds can only be sent electronically. You will be required to upload a voided check that matches the business name and information on other documents and includes your routing and account numbers. Starter checks will not be accepted.
The NAICS code that best describes your business.
W9 Form
Business Structure
Agreements: Prior to receiving a grant, an awardee must meet all the following requirements:
The owner or any directors or officers have not been convicted of a crime related to any other state grant.
The business has an active and up-to-date business registration with the Minnesota Secretary of State.
The business must be in good standing with the Department of Revenue.
The business is currently operating at the time of award.
Additional Questions: While your answers to these questions will NOT impact your application, they help us to gather essential information that supports our program and continued advocacy on behalf of underinvested communities.
How did you hear about this program?
How was your experience?
Provide a brief description of how these funds will impact the success of your business.
Did you receive assistance in filling out this application?
In the future, are you interested in receiving assistance for your business?
What language(s) do you speak?
Has your business community been adversely impacted by any of the following? Check all that apply.
Structural racial discrimination
Civil unrest
Lack of access to capital
A loss of population
An aging population
Lack of regional economic diversification
None of the above
Check all that apply.
At least 51% of the business is owned by individuals who are Black, Indigenous, or People of Color
At least 51% of the business is owned by individuals who are veterans
At least 51% of the business is owned by individuals who are women
At least 51% of the business is owned by individuals with a disability
At least 51% of the business is owned by individuals who identify as LGBTQIA+
Please provide a brief description (1-2 paragraphs) of the barriers to growth and success you or your business have faced
