Business News & Updates

PROMISE Act Grant & Loan Info Session at Midtown Global Market
The Promise Act grant and loan applications will be available early 2024 to support underserved
small businesses located in specific corridors and neighborhoods of Minneapolis and St. Paul.

Good Steward Grant
Hennepin County is now accepting Good Steward Grant applications through November 14, 2023.
These grants typically support smaller conservation projects such as constructing rain gardens, stabilizing stream banks, restoring native vegetation, installing vegetated filter strips, or implementing other best management projects. The typical funding amount is $10,000 to $20,000; maximum funding amount of $25,000.

Brownfield Funding for Livable Communities
Working with the state of Minnesota and counties, the Metropolitan Council has set up some grant information sessions that may be of interest to Lake Street businesses looking to renovate or redevelop the property, especially those working with the Commercial Real Estate Gap & Acquisition Financing program. The grants might work for new housing or business coop sites too.

Learn more about 5% fixed rate financing through Minnesota Inclusive Growth Fund
The Minnesota Inclusive Growth Fund, also known as MIGF, provides flexible, affordable capital and business support services to businesses across Minnesota. Created by the Catalyst Coalition, a group of five leading nonprofit Minnesota-based business support organizations, MIGF offers loans up to $200,000 with a 60-month term at a 5% interest rate. These funds can be used in a variety of ways including working capital, payroll, supplies, and more.

$450,000+ in investments to the Black, Indigenous, and Latina-owned businesses in the Twin Cities
In partnership with Founders First CDC, the Center for Economic Inclusion Vanguard Accelerator is offering Black, Indigenous, and Latina owned businesses capital investment and funding to accelerate their growth.

Verizon Small Business Digital Ready
Verizon Small Business Digital Ready is a two course program where business owners, once they finish the two courses, will be eligible to apply for a 10K grant. Deadline is May 12, 2023.

New Small Business Grant Opportunity
To support economic vitality and foster thriving business communities, 350 $5,000 grants will be awarded to economically vulnerable small business owners, and 25 of the 350 grantees will also be awarded $25,000 Enhancement Grants, allowing business owners the opportunity to further improve their businesses.

Refrigerant Emission Reduction Grants
Minnesota Pollution Control Agency is offering approximately $78,800 for projects to reduce refrigerant emissions. The funding will help recipients replace refrigeration equipment with refrigeration equipment that uses lower global warming potential (GWP).

mspWellness Microgrants 2023
Micro grants to improve employee well-being are available to businesses with 10-100 employees. Micro-grants will be awarded to businesses and organizations who submit proposals that focus on changing workplace policies, systems, and environment to support employee wellness. The changes could be focused on inspiring healthy eating, encouraging active living, supporting new mothers, tobacco-free living and/or overall wellbeing.

NDC Fresh Fronts on Lake Street Facade Improvement Initiative
NDC’s New Fresh Fronts program will assist businesses along Lake Street corridor to improve, repair or change their business facades, such as painting, signage, lighting, etc.