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DEED opens application process for small business release grants

Minnesota Department of Employment and Economic Development Photo: KSTP. Minnesota Department of Employment and Economic Development

KSTP
Updated: June 25, 2020 03:12 PM
Created: June 25, 2020 02:09 PM

The Minnesota Department of Employment and Economic Development (DEED) announced Thursday that small businesses impacted by the COVID-19 pandemic can now apply for small business relief grants.

The program will offer grants of $10,000 from a total of $60 million approved by the state legislature.

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Applications for the grants will be accepted through July 2.

Businesses with less than 50 employees are eligible to apply. Half of the funds will be distributed to businesses in Greater Minnesota, while the other half will be distributed to businesses in the metro area.

According to DEED, $18 million will go to businesses with six or fewer full-time workers, $10 million will go to minority businesses, $2.5 million will go to veteran-owned and operated businesses, $2.5 million will go to businesses owned and operated by women and $2.5 million will go to businesses that operate "indoor retail and food markets with an ethnic cultural emphasis."

You can find more information here.


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