The Minnesota Department of Employment and Economic Development has completed the initial lottery drawing for the winners of the Small Business Relief Grant Program, it was announced July 17.
The program will award $10,000 grants to small businesses that have suffered financial hardship as a result of the COVID-19 pandemic. More than 27,400 individual businesses applied for grant funding.
"Small businesses across our state have faced immense hardships due to COVID-19," said DEED Commissioner Steve Grove in a press release. "This has been a truly coordinated effort across state government and our nonprofit partners to quickly get these dollars out to businesses in need and help our communities, and we're pleased to say that the support is coming soon."
Winners were chosen by a randomized selection process, conducted in consultation with the Minnesota Lottery, and the drawing was observed by staff from the Minnesota Lottery and Minnesota Management & Budget.
Qualified local and regionally-based nonprofit organizations will now evaluate and conduct eligibility verifications for the grantees. Applicants will be contacted directly by the nonprofit charged with administering their grant.
DEED anticipates being able to provide a complete list of the Small Business Relief Grant Program grantees by late August.
The grants can be used for working capital to support payroll expenses, rent, mortgage payments, utility bills, and other similar expenses that occur or have occurred since March 1, 2020, in the regular course of business.
DEED is the state’s main economic development agency. For more information visit the DEED website.