Economic Response Fund
In partnership with the Minneapolis Foundation, the Economic Response Fund offers financial assistance to Lake Street corridor businesses that have experienced operational disruptions in recent weeks due to the federal immigration presence.
Economic Response Fund
Please look at all the information below to understand the eligibility requirements before applying.
The Lake Street Council is proud to support small businesses through the Economic Response Fund. This fund is administered by the Minneapolis Foundation and will provide short-term stabilization grants to Minnesota businesses that have experienced operational disruptions in recent weeks. Grants will help address urgent needs caused by reduced revenue, workforce disruptions, temporary closures, or safety and security concerns.
About
Small businesses in Minnesota that have experienced operational disruptions in recent weeks may now apply for financial support through the Economic Response Fund. This fund will provide short-term stabilization grants to help businesses address urgent needs caused by reduced revenue, workforce disruptions, temporary closures, or safety and security concerns. Grants are intended to support businesses over a 30- to 60-day period.
This fund is seeded by contributions from Minnesota companies and individuals and will distribute $4 million in the coming weeks.
Funding decisions will be made by seven nonprofit organizations with deep experience providing small business support in communities statewide.
Grants will be made on a rolling basis until all available funds are distributed.
What the Fund will Support
Funding will support small businesses in the Twin Cities and statewide, with an emphasis on communities experiencing the most significant disruptions. We recognize that the need far exceeds the resources available through this fund and will work to distribute funding equitably across business categories and affected communities.
Eligible businesses may receive grants ranging from $2,500 to $10,000, depending on demonstrated need and available funding. These funds are grants, not loans, and do not need to be repaid.
Grant funds may be used for 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 deductible
Legal or translation help
Temporary relocation
Funds may not be used for political activities or personal expenses.
If you have questions, please get in touch with us:
612-222-8545
business@lakestreetcouncil.org
Thank you to the Minneapolis Foundation and its donors for making the Economic Response Fund possible.
For assistance or questions with applications outside of the Lake Street corridor, contact a partner organization in your region:
African Development Center
Businesses owned by African immigrants and refugees statewide
manshur@adcminnesota.org or 612-877-8264
Latino Economic Development Center
Latino-owned businesses statewide
emergencyfund@ledcmn.org or 612-724-5332
LISC MN
Businesses statewide
MNEconomicResponseFund@lisc.org
Neighborhood Development Center
Twin Cities metro area
ndcemergencyrelief@ndc-mn.org or 651-379-8103
PFund Foundation
LGBTQ+-owned businesses statewide
Mercedes@pfundfoundation.org or 612-870-1806
West Bank Business Association
Businesses in the West Bank neighborhood of Minneapolis
info@thewestbank.org or 612-293-8265
Program Details
Eligibility
Who can apply?
These grants are designed to support small businesses that have experienced reduced customers or revenue, workforce disruptions, temporary closures, or concerns with safety and security.
Funding is available for businesses that are currently operating as well as those that are temporarily or permanently closed due to disruptions.
Businesses with a maximum of 40 employees are eligible to apply.
*This funding opportunity is not open to nonprofit organizations, local governments, or individual employees applying on their own behalf.
Eligibility Application Review and Decision-Making
Applications will be evaluated based on:
Evidence of business disruption
Whether the requested funds will stabilize the business
Reasonableness of the funding request
Applications will be reviewed on a rolling basis in weekly cycles. Early submission does not guarantee funding. Decisions will typically be made within 2-3 weeks of application submission, with funds distributed as quickly as possible.
Use of Funds and Reporting
After the grant period, businesses will be required to submit a brief narrative report that answers the following:
Is the business still open?
How many jobs were retained?
What are your biggest remaining challenges?
Businesses should also retain basic records (such as receipts, invoices, or payroll logs) for up to a year that show how grant funds were used.
Grant funds may be considered taxable income. Applicants are encouraged to consult a tax professional.
Documentation Requirements for Chosen Applicants
If your business is selected for funding, you will need to provide a W-9. In addition, you will need to provide proof that your business has been operating.
You do not need to provide proof of immigration enforcement activity at your business. A clear description of how your business was affected is sufficient.
This program does NOT collect information on the immigration status of applicants and does not impact immigration status. We will not request your Social Security Number to apply. If needed, your ITIN or alternative identification will be requested.
Application Process
All applicants must complete this online application, which takes about 10 minutes.
To get started, you will need to register on the Minneapolis Foundation’s online application portal. Once logged in, you will need to affiliate yourself with your business. To do this, select "Change Current Organization" and enter your business information.
Community partners and navigators will be available to assist you with completing your application.
This funding opportunity will remain open until all available funds have been distributed.