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COVID-19 Response: Minnesota Small Business Relief Grant applications open June 23 to July 2

by Megan Roberts, Extension educator

Minnesota Small Business Relief Grant applications are open from June 23 to July 2, 2020. MN Department of Employment and Economic Development (DEED) runs the $63.5 million program. Farmers (that operate for-profit) do qualify to apply for the $10,000 grants for small businesses that faced hardship due to COVID-19. On June 23, the Minnesota Department of Agriculture's Commissioners Office confirmed that farmers that operate their farm as a for-profit business and meet the other eligibility thresholds qualify; hobby and retirement farms do not qualify. A randomized, computer-generated lottery process will be used to select eligible businesses that will receive the $10,000 grant awards. Fifty percent of the funding will go to rural small businesses. Further allocations of the funding "include:

$18 million for businesses with six or fewer full-time employees
$10 million for minority business enterprises
$2.5 million for veteran-owned businesses
$2.5 million for women-owned businesses
$2.5 million for operators of indoor retail and food markets with an ethnic cultural emphasis."

Businesses that apply will need to answer a series of yes/no questions, enter basic business information, and be able to provide information on gross revenue during spring of 2019 and gross revenue during spring of 2020.

Caution: This blog is offered as educational information.  It does not constitute legal or financial advice.  
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