Round 2 Small Business Relief Fund Guidelines ($7 Million)
The applications will be accepted by 5:00 pm Friday, August 21, 2020. Apply here!
Funds can be used for operating expenses, including rent payments, mortgage payments, utilities, payments to suppliers, production of business contingency plans, technical assistance/reopening services, technology capital or marketing assistance/tools, security or other critical non-payroll business expenses (including expenses related to reopening) as approved by the fund administrator.
A minimum $1.5 million of the total grant amount is set aside for qualifying individuals contributing to the local creative economy.
Eligible Businesses
Self-employed/sole proprietor (up to $7,500 in qualified expenses)
- Must be a locally owned and operated for-profit business with a physical establishment in Ramsey County or resident of Ramsey County
- Shared commercial spaces and homebased businesses
- Home-based businesses must document that the business is a primary source of income
- Must have been operating for at least 6 months prior to March 1, 2020
- Must be licensed and in good standing, if applicable
- Must demonstrate a significant loss in revenue since March 15 (no credit score or collateral requirements apply)
Between 1 and 20 employees (up to $10,000 in qualified expenses)
- Must be a locally owned and operated for-profit business with a physical establishment in Ramsey County
- Must have at least one employee in addition to the owner as of March 1, 2020 and not more than 20 employees
- Must have been operating for at least 6 months prior to March 1, 2020
- Must be licensed, in good standing, current on property taxes prior to May 15, 2020, if applicable
- Must demonstrate a significant loss in revenue since March 15 (no credit score or collateral requirements apply)
Certain businesses are ineligible, including:
- Individuals or businesses that have received funding from the Department of Employment and Economic Development through the Small Business Relief Grant.
- Non-profit organizations
- Corporate chains, multi-state chains
- Businesses in default conditions prior to February 29, 2020
- • Businesses that primarily derive income from gambling
- • Businesses that derive any income from adult entertainment
- • Businesses that primarily sell pawned merchandise, guns, tobacco or vaping products
- • Businesses that derive income from passive investments; business-to-business transactions; real estate transactions; property rentals or property management; billboards; or lobbying
