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) 

Are we able to use the grant for a down payment towards a property or for a renovation?

No, grant funds may not be used towards real estate and/or physical tenant improvements. Loan funds (administered through MEDA) may be used for real estate and/or physical tenant improvements. 

Link to Resource page coming soon.

Can I use a grant to pay off an existing loan or debt?

No. Grant funds are limited to expenses such as payroll, rent / mortgage, utilities, equipment or other expenditures that occur in the regular course of business.

Can I use the grant funds to pay someone who helped me apply for this grant opportunity?

No, fundraising does not qualify as an eligible use. Our partner organizations can provide help submitting an application free of charge.  

Click Here to View Our Grant Partners 

If I’m applying for a grant AND a loan, how would I apply for the loan/report the grant money I’ve received? Can I apply for them at the same time?

Yes, you can apply for the grant and loan at the same time. MEDA and NDC are working together to create a seamless transfer of information if you are applying for both a loan and a grant. There is a separate application for each if you meet the qualifications for both. MEDA’s loan application is currently open. 

Click Here to view MEDA’s website.  

What if I had to change my business registration to save on taxes (changing my business from an LLC to a S Corp), would the entire period I’ve had the business count, or only after the recent S Corp?

The type of business does not affect the grant eligibility. The program was originally created to help businesses in the aftermath of the civil unrest and COVID-19. This program is meant to help you create and sustain that change. 

If I have recently acquired a business that otherwise meets all requirements, can I still apply for a grant/loan for the business? (Business was previously owned by others)

Yes, as long as the business meets all eligibility criteria. Click here to view the eligibility criteria.

Is the grant taxable?

Yes, the grant is taxable income.

Do you have to sign up as a vendor/SWIFT?

No, grant funds do not require a SWIFT account.

What are you doing to help reach immigrant communities?

Accessibility and equity is a value around how NDC deploys PROMISE Act grants. We’re currently working with community partners that actively work with Hmong, Latino, and Somali communities. We are also working on having the application accessible in Hmong, Spanish, and Somali. If you see gaps in how services are being provided, or would like to have support in an additional language, please let us know here.

I received more than $10,000 from PPP but didn’t receive anything from the state. How does that factor in?

The only programs that apply for the $10,000 from previous State programs are:  

• Minnesota Small Business Emergency Loan Program  

• Minnesota Small Business Relief Grants  

• Minnesota County Relief Grants to Local Businesses  

• Minnesota Movie Theater and Convention Center Grant  

Federal programs like PPP do NOT factor into grant prioritization. 

What if I’m not eligible for the PROMISE Act grant program? What other resources are available to me?

If your business is not eligible, you may be able to find other opportunities or resources to benefit your business. NDC, MEDA, and other community partner organizations are dedicated to finding a way to help all businesses. Please visit the “Resources” dropdown in the top navigation to learn more about DEED and our community partners. 

Automated Clearing House (ACH) Document

1. Click the “Award Documents” section of your application. 
   

2. Ensure each section of the ACH Form is filled in completely. 
   

3. ⬇️ DOWNLOAD the blank ACH document. 
   

4. Banking Information:
   

   • EFT (Electronic Funds Transfer) to:  Business Name  
     

   • Beneficiary: Business Name, unless a Sole Proprietor.  

     • If you are a Sole Proprietor, enter the Primary Applicant’s first and last name. 
       

   • Bank: [bank associated with voided check information] 
     

   • Bank Address: [business banking location applicant typically visits for in-person banking support] 
     

   • Routing #: [◾◾ MATCHES voided check] 
     

   • Account #: [◾◾ MATCHES voided check] 
     

   • Bank Account Owner:  

     • Name: [applicant first and last name] 

     • Date: [date ACH Form is filled out] 
       

5. UPLOAD your completed ACH document as a 🗎 SCANNED PDF
   

6. 💾 SAVE your changes on your application, finish ALL needed changes before you hit ✅ SUBMIT. 

Grant Agreement Letter

1. Click the “Award Documents” section of your application. 
   

2. ⬇️ DOWNLOAD the unsigned Grant Agreement Letter.
   

3. Make sure the Business Name on the letter matches your application (first line of the letter). 
   

4. This is a legal document—read it fully and agree to the terms before signing.
   Signing does not guarantee a grant award.
   

5. How to fill out the Grant Agreement Letter

   • “By” line – ✍️SIGN (handwritten, or typed) your full name (◾◾ MATCHES name in your application)  

   • “Its” line – Your role in the business (i.e., Owner) 

   • Leave the last two lines blank (for NDC to complete if approved by DEED).  
     

6. ⬆️ UPLOAD all 5 pages, including signature page, as a 🗎 SCANNED PDF to the “SIGNED” section. 
   

7. 💾 SAVE your changes on your application, finish ALL needed changes before you hit ✅ SUBMIT. 
   Note: This document will be finalized by NDC and MN DEED if your business is awarded a grant. 

State or Government-Issued Identification

1. The name on your 🪪 identification document ◾◾MUST MATCH the name entered as the primary applicant applying on behalf of the business or organization. 
   

2. Acceptable identification must be a current (not expired): 

   • Driver’s license 

   • State, federal, or local government-issued identification 

   • Federal-issued Passport 

   • Federal-issued Passport card 
     

3. ⬆️ UPLOAD your ID as a 🗎 SCANNED PDF or PNG document. 

   • Be sure to include the entire 🪪 ID in the scanned image. 

   • Scan the 🪪same ID you used in your Plaid verification. 
     

4. 💾 SAVE your changes after every session on your application. Be sure to finish ALL needed changes before you hit ✅ SUBMIT. 

Voided Check

1. The Business Name, bank name, routing number, and account number on your voided check ◾◾ MUST MATCH with what you enter on your application. 
   

2. Create a 🗎 SCANNED PDF copy of your voided check. 

   • Verify that your check is a paper check and pre-printed with your Business Name and address. 

   • If you are a Sole Proprietor, we will accept your first and last name as the Business Name. 
     

3. 🚫 WE CANNOT ACCEPT direct deposit forms, starter checks, or other documents 

   • If you do not have a pre-printed checkbook: 

• You may request counter checks printed by your bank. 

• If you have an online bank, you will need to order checks. 
  

4. Ensure your routing and account numbers ◾◾ MATCH the routing and account numbers entered in the profile section of your application.  
   

5. ⬆️UPLOAD the 🗎 SCANNED PDF copy of your voided check to the “Financial Information” section 

   • Scan both the front and back of the physical check 
     

6. The routing and account numbers entered on your application in the Financial Information section ◾◾MUST MATCH the information on your uploaded voided check. 
   

7. 💾 SAVE your changes on your application, finish ALL needed changes before you hit ✅ SUBMIT. 
   

Certificate of Grant Recipient

1. Click the “Award Documents” section of your application. 
   

2. ⬇️ DOWNLOAD the unsigned Letter of Grant Recipient and complete the following fields:
   

   • Date 

   • Business name 

   • ✍️ SIGNATURE (handwritten, or typed) 

   • Name of applicant 

   • Title 
     

3. Ensure you ⬆️ UPLOAD the 🗎 SCANNED PDF to the “SIGNED” section.
   

4. 💾 SAVE your changes on your application, finish ALL needed changes before you hit ✅ SUBMIT
   
   Note: This document will be finalized by NDC and MN DEED if your business is awarded a grant.