Over $2.5M in grants awarded to help rebuild Twin Cities, small businesses
A total of $2.5 million in grants will be distributed to help the Twin Cities and small businesses rebuild, according to a news release Thursday.
Greater Twin Cities United Way, The Minneapolis Foundation and the Saint Paul and Minnesota Foundation announced they’ll distribute the funds from the Twin Cities Rebuild for the Future Fund.
According to the release, the grants will provide emergency support for small businesses owned by Black and Indigenous people and people of color in areas most impacted by unrest following George Floyd’s death. Those areas include Lake Street in Minneapolis, North Minneapolis and University Avenue in St. Paul.
The nonprofits receiving the grants have strong relationships and experience working with the affected businesses, as well as expertise in rapidly deploying support, the organizations said. They also have a deep understanding of the culture, language and needs of the businesses impacted.
Those receiving funding include:
- African Development Center
- African Economic Development Solutions
- American Indian Community Development Corporation
- Asian Economic Development Association
- Black Women’s Wealth Alliance
- Lake Street Council
- Latino Economic Development Center
- Neighborhood Development Center
- New American Development Center
- Northside Economic Opportunity Network
- Northside Funders Group in partnership with West Broadway Coalition
The funding will be used for direct financial assistance to business owners, technical assistance and systems navigation, and communications.
The release says 200 people and 22 companies and foundations invested in the Twin Cities Rebuild for the Future Fund in two weeks.