Application Preparation 

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: June 6, 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.

  • 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
    Form     1120 | 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.

  • 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 

    • 2022-2a

  • 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.

  1. How did you hear about this program?

  2. How was your experience? 

  3. Provide a brief description of how these funds will impact the success of your business. 

  4. Did you receive assistance in filling out this application? 

  5. In the future, are you interested in receiving assistance for your business? 

  6. What language(s) do you speak? 

  7. 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 

  8. 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+ 

9.   Please provide a brief description (1-2 paragraphs) of the barriers to growth and success you or your business have faced