Small Businesses
May Now Apply for Economic Response Grants

Seeded by contributions from more than 35 Minnesota companies and individual donors, the Economic Response Fund will distribute $4 million in the coming weeks. The Minneapolis Foundation has allocated these resources to seven nonprofit organizations with deep experience providing small business support. These partners will make grant decisions, distributing financial assistance to small businesses in communities statewide.

Grants will be made on a rolling basis and distributed as quickly as possible to help businesses stabilize in the coming weeks.

This fund is a collective effort in which the Foundation is pooling resources from Minnesota companies and individual donors to help small businesses address needs caused by reduced revenue, workforce challenges, temporary closures, or safety and security concerns. 

“Small businesses are facing tremendous challenges right now, and the Economic Response Fund is an important step that Minnesota companies are taking to help mobilize resources for our neighbors,” said R.T. Rybak, President and CEO of the Minneapolis Foundation. “We recognize the needs are much greater and hope that launching this fund will spur additional investment from the business community.” 

Eligible small businesses may receive grants ranging from $2,500 to $10,000, depending on demonstrated need and available funding. Funding will support small businesses in the Twin Cities and statewide, with an emphasis on communities experiencing the most significant disruptions. 

Businesses with a maximum of 40 employees are eligible to apply. Funding is available for businesses that are currently operating as well as those that are temporarily or permanently closed due to disruptions.

Grant funds may be used for a wide range of business-related expenses, including: 

• Payroll or contractor payments 
• Rent or mortgage for business space 
• Utilities 
• Inventory replacement 
• Security, repairs, or safety-related costs 
• Covering short-term revenue loss 
• Insurance deductibles  
• Legal or translation help  
• Temporary relocation 

Funding decisions will be made by these partner organizations:

• African Development Center 
• Lake Street Council 
• Latino Economic Development Center 
• LISC MN
• Neighborhood Development Center 
• PFund Foundation
• West Bank Business Association 

Grant applications will be accepted until all available funding has been distributed.

The Economic Response Fund is supported by companies and individual donors across the community, and contributions in any amount are welcome. Three ways to contribute:

• Make a credit card donation.
• Mail checks to the Minneapolis Foundation, 800 IDS Center, 80 S 8th Street, Minneapolis, MN 55402. The memo line should note the Economic Response Fund.
• For corporate contributions, contact Teresa Skaar at tskaar@mplsfoundation.org.