Business News & Updates
Applications Now Open: MN PROMISE Act Grants
The MN PROMISE Act grant program is now accepting applications for Round 2! These grants are designed to support small businesses and nonprofits rooted in our communities, helping them recover, grow, and continue creating jobs and opportunities.
Emerging Developers Funding
LISC Twin Cities launched the Emerging Developers Fund Loan Program on April 21, 2025. The program anticipates awarding approximately $2,775,000 in loans to local emerging developers for predevelopment expenses.
Cultural Districts Arts Fund
The Cultural Districts Arts Fund is a new initiative coordinated through the Arts & Cultural Affairs Department of the City of Minneapolis. This initiative aligns with the City’s Comprehensive Plan: Minneapolis 2040 Policy 34 “Cultural Districts” to help the local community tell its story in imaginative ways, activate the neighborhood’s connectivity through partnerships and collaborations, and cultivate new arts and thought leaders in their community—leaders who are driven by the desire to make their community a better place to live by expanding its creative capacity.
MN Promise Act Grant program and Loan program Town hall for South Minneapolis
A few of the offices representing South Minneapolis have scheduled an informational Town Hall with relevent organizations and individuals to discuss the MN Promise Act Grant and Loan programs with eligible small businesses.
Promise Act Virtual "Get Ready" Info Session
Join NDC for an Upcoming Virtual “Get Ready” Info Session!
MN Promise Act Loan Program
The Providing Resources & Opportunity & Maximizing Investments in Striving Entrepreneurs (PROMISE) Act Loan Program is a new, state-funded program that will provide loans to disadvantaged small businesses located in certain areas of Minneapolis and St. Paul.
Employer Reasonable Accommodation Fund
The Department of Employment and Economic Development (DEED) Employer Reasonable Accommodation Fund (ERAF) creates a central fund where small to mid-sized Minnesota employers can request reimbursement for expenses related to providing reasonable accommodations for job applicants and employees with disabilities.
PROMISE Act Grant & Loan Info Session at Midtown Global Market
The Promise Act grant and loan applications will be available early 2024 to support underserved
small businesses located in specific corridors and neighborhoods of Minneapolis and St. Paul.
Informational Session for the Minnesota Expanding Opportunity Fund Program
Don’t miss next week’s informational session for DEED’s Minnesota Opportunity Fund! Hear from program staff and get answers to your questions on Monday, Nov. 20 at 3:00 pm on Microsoft Teams.
Minnesota Inclusive Growth Fund - Increase
Minnesota Inclusive Growth Fund (MIGF) has increased the max loan amount to $350,000 in financing at just a 5% fixed interest rate to eligible small businesses. As of November 13, 2023, the prime interest rate is 8.5% and we are excited to offer this below-market rate financing opportunity to help our local small businesses grow and thrive!