Minnesota Main Street COVID Relief Grants Program to Open Soon
Applications for the Minnesota Main Street COVID Relief Grants Program will be open September 20, 2021, through September 29, 2021.
Minnesota-owned and operated businesses that experienced financial hardships due to COVID-19 may be eligible for a grant of $10,000-$25,000 available through the Minnesota Main Street Covid Relief Grants Program recently signed by Gov. Tim Walz. Eligible businesses can apply online via the application portal during the 10-day application window, September 20, 2021, through September 29, 2021.
Eligible applicants must be able to demonstrate financial hardship as a result of the COVID-19 outbreak. Financial hardship is generally defined as experiencing a 10% revenue loss year-over-year between Jan 1, 2020, to December 31, 2020, over the same period in 2019.
Additionally, to be eligible, businesses must:
- be majority-owned by a Minnesota resident
- have primary operations within the state of Minnesota
- employ the equivalent of 200 full-time workers or less. (1-200 FTES)
- have had a minimum of at least $10,000 of revenue in 2019 or 2020
Both for-profit and non-profit organizations could be eligible.
A total of $64,200,000 is available to be dispersed through the grant program. The amount an eligible business may receive is based on the number of full time equivalent (FTE) employees on staff.
- $10,000 – 6 or fewer FTEs
- $15,000 – 7-49 FTEs
- $20,000 – 50-99 FTEs
- $25,000 – 100-200 FTEs
Employers with over 200 FTEs are not eligible.
Grants will be awarded via a computer-generated, randomized selection process from all eligible applicants. Prioritization will be given to applicants that have not received prior assistance through previous relief programs, including the Movie Theater and Convention Center Relief Grant program, the County Relief Grant Program, the Small Business Relief Grant Program, and the Small Business Emergency Loan program.
Fifty percent of the funds are available for businesses in Greater Minnesota, with the remaining 50% available for businesses based in the 7-county metro area (Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington counties). The program includes minimum set-asides for various business categories and targeted groups, including very small businesses (six or fewer FTEs), and BIPOC, Veteran, and Women-Owned businesses.
DEED to Oversee the Program
The program will be overseen by the Minnesota Department of Employment and Economic Development (DEED). The program’s application portal will be accessible on the APPLICATION tab of the Minnesota Main Street COVID Relief Grants page on the DEED website beginning September 20, 2021. The page also includes more details and responses to frequently asked questions.
Contact Us for Assistance
If you think your business may be an eligible applicant, contact us for help in preparing your application. Required documents may include your 2019 – 2021 state and federal tax returns, financial statements, and proof of residence.