Who is Eligible for a Grant or Loan?
This initiative is designed to bolster the development and repositioning efforts of small businesses in Minnesota. To be eligible for the MN PROMISE Act program in 2024 the applying business must meet three requirements:
#1 Active Minnesota business with two-years of state and federal tax returns:
2021 & 2022 or 2022 & 2023
#2 A business who has gross annual revenues of $1,000,000 or less, for the loan program, and $750,000 or less, for the grant program, as indicated on the earlier year of submitted tax returns.
#3 Businesses must be located in specific geographic areas of Minnesota
For more information on Greater Minnesota resources, visit MN DEED’s Resource page under ‘Partner/Service Area’.
Eligible Minneapolis and Saint Paul Neighborhoods are shown in the Google Map below:
Map Navigation Instructions
Click on the map and use the +/- controls to zoom in / out of each eligible area.
Click on an area for to see detailed geographic boundaries.
How to Check a Business Address’ Eligibility
Use the ⛶ icon in the top right corner to view the map full screen.
Once in full screen, click the 🔍 magnifying glass on the left side of the screen, and enter the business’ address in the search bar. If the address appears in a shaded area, it is likely a neighborhood eligible for the Minneapolis and Saint Paul program.