Award Calculation

Overview: This document is to help potential applicants better understand how much their business could receive from the MN PROMISE Act grant program fund.

To be eligible, you must demonstrate that your business was established in 2021 or earlier, based on your 2021 tax filing information. You will be required to submit three years of state or federal tax returns: either 2021, 2022, and 2023 or 2021, 2023, and 2024. Your business must have gross annual revenue of $750,000 or less, based on both your 2021 taxes and your most recently completed tax year. The latest year of submitted tax returns will be used to determine the award amount.

*Changes will occur according to the State of Minnesota as the PROMISE Act program progresses.

IMPORTANT: The chart below can help provide an estimate of the award the business could receive.

Grants are reviewed and awarded based on eligibility, preference level, and randomization. NO ELIGIBLE APPLICANT IS GUARANTEED TO RECEIVE A GRANT.