What is the vision for the PROMISE Act?

We are a transparent steward of equitable distribution of resources that will empower and equip entrepreneurs in our most disadvantaged communities and enable them to prevail.

What are the guiding principles for the program?

• Transparency: We strive to communicate clearly to applicants, partners, and the community.

• Stewardship: We are cognizant that we are managing state dollars and do our best to be good stewards of these funds, including building an application process that is mindful of security and guards against fraud.

• Equitable Distribution: We have made many efforts to make this process as accessible to the communities it is intended for, including providing 1:1 application support, providing the application and support in several languages, offering multiple grant rounds, and leaning on feedback insight from community partners.

• Empower & Equip: We are giving businesses the agency to grow and scale their business. We provide resources that will walk applicants though everything they need to apply for a Minneapolis - Saint Paul PROMISE Act grant.

• Disadvantaged Communities: The communities that are taken into consideration when drawing boundaries are small businesses who are located, or who operate in neighborhoods / communities that have been adversely affected by:

  • Structural racial discrimination

  • Civil unrest

  • Lack of access to capital

  • A loss of population

  • An aging population

  • A lack of regional economic diversification

• Prevail: By spreading these funds to local businesses, it is fueling growth and opportunity in targeted communities. We aim to empower entrepreneurs and foster economic growth for local businesses.

What businesses are given preference?

Click here to visit the Grant Preference page to learn which businesses are prioritized for the MN PROMISE Act grant. 

When will Round Two launch?

Round Two of the MN PROMISE Act Grant Program is expected to open in Fall 2025, but the exact timeline depends on final program guidelines from the State of Minnesota and the availability of funds. 

📚 Want to get ready in the meantime? 

• 📅 Click here to view upcoming support sessions and info events 

• ✅ Review updated Round Two eligibility guidelines 

• 📝 Take the Eligibility & Readiness Quiz to see if you may qualify 

How much money is available?

At the beginning of Round 2, we have approximately $50 million available for grant distribution. 

During Round 1 in 2023, nearly $9.58 million was awarded to eligible small businesses and nonprofits across the Twin Cities. 

This remaining funding for Round 2 will support a new pool of applicants who meet the updated eligibility and preference criteria. 

➡️Click here to view Round 1 Grant Recipients  

Is the program on a first-come, first-serve basis?

No. There will be multiple rounds with a specific amount of dollars. Not all dollars will be spent in round 1. NDC wants an equitable process for business owners to have an opportunity to access the grant application. 

What impacts who gets an award?

Several key factors determine which eligible businesses receive a grant. The process is designed to be fair, transparent, and based on criteria set by the State of Minnesota. 

Here’s what impacts whether a business receives an award: 

📍 Where Your Business Is Located 

• Applications are compared to others in the same geographic area (e.g., South Minneapolis, St. Paul, Uptown, or North Minneapolis). 

• Each geographic area has its own pool of funding. 

• Click here to view the eligibility map. 

📊 Preference Score 

Eligible businesses may receive up to 3 preference points to improve their chances. 

You can earn points if: 

• Your business was in operation in 2021 (+1) 

• You received a total of $10,000 or less in COVID-19 relief grants from below programs (+1) 

• Minnesota Small Business Emergency Loan Program  

• Minnesota Small Business Relief Grants  

• County Relief Grants to Local Businesses  

• Minnesota Movie Theater and Convention Center Gr 

• You experienced a revenue loss over the last two years, based on tax returns (+1) 

➡️ Click here to learn more about how grants are evaluated and how preference points work 

⏱️ Funds Remains 

• Applications will be reviewed based on the date a fully complete and correct application is submitted. 

• As funds are committed over time to eligible and complete applications, later submissions may have less funding available. Timing matters but it’s just one part of the process. 

🎲 Random Number 

• Every application is assigned a computer-generated random number to help break ties in a fair and transparent way. 

• This only matters if two applications from the same geographic area (like South Minneapolis or St. Paul) have the same preference score. In that case, the random number helps decide which application moves forward. 

💡 Keep in Mind 

• Because funding is limited, not all eligible applications will receive a grant. 

What definition of business are you using?

• Sole proprietor

• Single Member Limited Liability Corporation (LLC) – filing as a sole proprietor

• LLC - filing as business corporation

• Business Corporation (S-Corp or C-Corp)

• Cooperative

• Limited Liability Partnership (LLP)

• Limited Partnership (LP)

• Nonprofit corporation

How is "financial hardship" defined?

Financial hardship is defined as a year-over-year decrease in gross revenue or net revenue of 10%. To be considered, you will need to upload your most recently completed tax return and the return from the prior year.  

For example: If your most recently completed tax return is for 2024, you must also upload your 2023 tax return. Please note that preference does not guarantee an award.