Promise Act Grant Program
The Promise Act Grant Program supports Minnesota businesses with grants for payroll, rent, utilities, equipment, and other operating costs to help them maintain operations in affected communities.
Funder: Minnesota Department of Employment and Economic Development
Due Dates: Rolling until Round 2 funds are allocated (metro partner) | Varies by partner (other regions)
Funding Amounts: Up to $10,000, $25,000, or $50,000 per business, based on prior-year gross revenue
Summary: Grants help eligible Minnesota businesses cover everyday operating costs and maintain operations.
Key Information: A business must operate within an eligible partner service area, not merely near its boundary.
Description
The Minnesota Department of Employment and Economic Development (DEED) oversees this state-funded program and delivers grants through regional partner organizations. It serves businesses in communities affected by structural racial discrimination, civil unrest, limited access to capital, population loss or aging, or limited regional economic diversification. The program has $94.3 million for grants across multiple rounds.
Grants provide working capital for regular business expenses, including payroll, rent or mortgage payments, utilities, and equipment. Regional partners administer applications and offer free application assistance.
