Applicant Help Center
This page helps you find answers about the MN PROMISE Act application. Click a button below to view help articles on that topic, or use the search bar to look up specific information.
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What are the requirements for the grant money, will I have to report anything after being approved?
Yes. If you are awarded a grant, you will sign a grant agreement that outlines your responsibilities. According to that agreement:
You must use the funds only for eligible business expenses such as payroll, rent, utilities, equipment, and other regular operating costs for your Minnesota-based business. You cannot use the funds for personal expenses, paying back taxes, purchasing land or buildings, or acquiring a business.
You are required to keep documentation of how the funds are spent. Upon request, you must provide this documentation to the administrator or the State within 10 business days.
You must return any funds that are not used for eligible business purposes.
You must participate in follow-up reporting. NDC may check in with you during or after the grant period to better understand the impact of this program. Participation in these follow-ups is required.
The grant is considered taxable income. As stated in the agreement, the funds may be subject to federal and state taxes and must be reported on your tax filings.
Use of the funds for other purposes is prohibited and use for personal purposes constitutes embezzlement.
What will be required of the business owner for the disbursement of funds?
You will be required to sign a grant agreement, provide a voided business check (or, if you are a sole proprietor, a voided check from your personal checking account), and submit a W-9 form.
I use Venmo, PayPal, Zelle, or Cash App as my business bank account. Can I receive my grant through those apps?
No, you must have a bank account from a traditional banking institution. The PROMISE Act grant dollars are not NDC’s money. They are State funds, and therefore, taxpayer dollars. To mitigate fraud, only bank accounts from traditional banking institutions will be accepted.
If you run your business through one of those apps, we highly recommend you open a business bank account at a local bank branch or credit union. Thank you for understanding.
Is there a timeline for the use of grants?
No, there is no timeline for the use of grants.
What can I use grants for?
Grant funds are intended to support normal business operations; also known as working capital. Funding is intended to cover a range of essential business expenses, including but not limited to:
Payroll, rent, mortgage payments, and utilities
Purchase new, or upgrade, business equipment
Other routine operational expenses
Grant funds, however, cannot be used for real estate or physical tenant improvements such as painting, signage, and similar upgrades. They also cannot be used for personal expenses, paying back taxes, purchasing land or buildings, or acquiring a business.
For the documented plan on how I would use the funds for my business, what should I consider?
The application will ask you to categorize by percentage how you will use the grant. It will also request a 1-2 sentence description on how you plan to use the grant. The categories are:
Payroll
Rent/Mortgage
Utilities
Equipment
Other (similar expenses that occur in the regular course of business)