Small Business Relief Fund Grant Applications
The Entrepreneur Fund, Northland Foundation, and The Northspan Group, Inc. are pleased to announce they are accepting grant applications for its recently-formed Small Business Relief Fund. The three partners developed the fund in response to COVID-19 and intend to provide grants up to $5,000 to regional small business owners facing significant financial challenges resulting from the pandemic.
The Small Business Relief Fund will provide direct grants up to $5,000 to small business owners in northeast Minnesota, central Minnesota, and northwest Wisconsin.
The review committee will prioritize grants to:
- Be an existing small business, less than 5 FTEs, AND during the COVID-19 Pandemic, the Federal Government Paycheck Protection Program (PPP) does not fit
- Business affected by the disaster (all businesses; not only those included in the State of MN executive order.
Priority will be given to those businesses that serve as a core community staple such as rural/community grocery stores, restaurants, downtown/main street retail or hospitality, etc.
- Fund review committee determination that the available grants will make a discernible impact on the sustainability of the business.
- Timing is of the essence for disbursement of funds.
- As business needs are identified, these grants could be paired with other resources, such as consulting guidance to manage the effects of the pandemic, as well as financial resources that may include flexible working capital loans from the Entrepreneur Fund and other local, state, and federal resources that become available.