Promise Act Grant Program

About

The Promise Act Grant Program, overseen by the Minnesota Department of Employment and Economic Development, offers financial support to eligible businesses adversely affected by structural racial discrimination and other economic challenges, providing grants up to $50,000 based on annual revenue, with technical assistance available for applicants.

Benefits

• Up to $10,000 for businesses with revenue ≤$100,000
• Up to $25,000 for businesses with revenue >$100,000 and ≤$350,000
• Up to $50,000 for businesses with revenue >$350,000 and ≤$750,000
• Technical assistance available for application submission

Eligibility Criteria

• Must have primary business operations in Minnesota
• Must be located in an eligible service area
• Must be registered with the Minnesota Secretary of State if required
• Gross annual revenue of $750,000 or less
• Must maintain ongoing operations as of the application date
• Sole proprietors do not need to register
• Non-profits must meet specific revenue criteria