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PROMISE Act Grant Program
General · Minnesota Department of Employment and Economic Development (DEED) · MN
The PROMISE Act Grant Program is a Minnesota state grant, administered by DEED, that provides one-time cash awards between $10,000 and $50,000 to small businesses and nonprofits in economically distressed Minnesota communities to help them invest in and grow their operations.
The PROMISE Act Grant Program is a Minnesota state grant administered by the Department of Employment and Economic Development (DEED), working through regional partner foundations to distribute awards across the state. The program provides one-time cash grants, generally ranging from $10,000 to $50,000, to help existing small businesses invest in and grow their operations.
Funding is aimed at small businesses and nonprofits located in economically distressed or adversely-affected Minnesota communities. The program runs in rounds, and DEED has indicated that a Round 2 is anticipated in 2026, though exact timing, funding availability, and award amounts for that round should be confirmed directly with DEED or the regional partner foundations administering the funds.
For a small business owner in Minnesota, this program matters because it offers non-dilutive cash support — money that does not need to be repaid and does not require giving up equity — specifically targeted at businesses in communities that have faced economic hardship. This can help cover costs tied to expanding operations, purchasing equipment, or otherwise strengthening a business's foundation.
Because this is a state-administered, round-based grant, availability can change from year to year, and the eligibility criteria for 'economically distressed or adversely-affected' communities may be defined more specifically in program guidelines than what is summarized here. Business owners interested in applying should check the official DEED webpage for the current round status, precise award amounts, application windows, and full eligibility requirements before assuming they qualify or planning around a specific grant amount.
Who qualifies
How to apply
Questions people ask
Is this a grant or a loan?
It is a grant — a one-time cash award that does not need to be repaid.
Who runs this program?
The Minnesota Department of Employment and Economic Development (DEED), working through regional partner foundations.
How much money can I get?
Awards generally range from $10,000 to $50,000, according to the program notes, though this should be confirmed for the current round.
Who is eligible?
Small businesses and nonprofits located in economically distressed or adversely-affected Minnesota communities.
What is the deadline to apply?
The listing says to check current rounds; Round 2 is anticipated in 2026, so confirm exact dates at the official source.
Is this available outside Minnesota?
No, this program is specific to Minnesota (MN).
Do I have to repay the grant?
No, it is described as a one-time cash grant, not a loan.
Is the grant taxable?
This is not specified in the available information — confirm at the official source.
How do I apply?
Applications are handled through DEED and regional partner foundations; visit the official DEED PROMISE Grant webpage for current instructions.
Is this a one-time award or ongoing funding?
It is described as a one-time grant, distributed in funding rounds.
Is Round 2 open right now?
Round 2 is anticipated in 2026, but the current status should be checked at the official source.
What can the grant funds be used for?
The summary indicates funds help existing small businesses invest in and grow their operations, though specific allowable uses are not detailed here.
Opportunity number: not published. Source: curated + verified (official state source, 2026). GetFundedUSA is independent and not affiliated with Minnesota Department of Employment and Economic Development (DEED); always confirm current deadlines, amounts and eligibility on the sponsor's own page before applying.