Grant Preference

*Please note that all details provided are subject to change. We will make every effort to communicate any updates or modifications as they occur.

Eligibility for MN PROMISE Act grants are based on active business status and years in business, geography, and your business’ gross annual revenue.

Eligible businesses that are given preference for grant funds include those that:

  • Previous Assistance: Did not receive more than $10k of COVID assistance, from the following programs: Minnesota Small Business Emergency Loan Program, Minnesota Small Business Relief Grants, Minnesota County Relief Grants to Local Businesses, and Minnesota Movie Theater and Convention Center Grant

  • Financial Hardship: Can demonstrate financial hardship, defined as a 10% decline in gross revenue OR a decrease in net income, as demonstrated by the two years of submitted tax documents.

    • Applicants can submit either official tax returns from either 2021-2022 OR 2022-2023

    • Tax returns submitted must be official, filed copies

  • In addition, a specific amount of funding is reserved for businesses in each geography that earned less than $100,000 in revenue in the prior year.

    *Neither eligibility nor preference guarantees that a business will receive an award.