MN PROMISE Act Grant

Introducing the MN PROMISE Act 
Round 2 of the MN PROMISE Act Grant is officially open, this is your chance to access state-backed funding and support to strengthen your small business.

What is MN PROMISE?

MN PROMISE (Providing Resources & Opportunity while Maximizing Investments in Striving Entrepreneurs) is a new state-funded revitalization program designed to uplift disadvantaged businesses in North & South Minneapolis, Saint Paul, and eligible Greater Minnesota areas. 

It offers both grants and loans:

• Metro Grant Program: $72 million in grants for qualifying businesses in Minneapolis and Saint Paul (delivered via Neighborhood Development Center).
• Metro Loan Program: $22.2 million in loan funds (administered via MEDA) for eligible metro businesses.
• Greater Minnesota Programs: Grant and loan programs via Minnesota Initiative Foundations and regional partners in non-metro areas.

Who Can Apply & What You Need

• Your business must be in the eligible geographic area (Minneapolis, Saint Paul, or qualifying Greater Minnesota zones). Use the map on the MN PROMISE site to check your address.
• You must submit your most recent tax return (2023 or 2024) showing gross annual revenue of $750,000 or less.
• If your revenue dropped 10% or more from 2023 to 2024, that may give your application a boost (preference score).
• Be aware: DEED has recently updated eligibility rules, check their website for the latest criteria.