Minnesota SF4972 modifies the PROMISE grant program to support businesses affected by racial discrimination and civil unrest.

Minnesota SF4972 amends the PROMISE grant program to provide financial assistance to businesses in communities adversely affected by structural racial discrimination and civil unrest. Eligible businesses must be located in Minnesota, have gross annual revenue of $750,000 or less, and demonstrate financial hardship or lack of access to capital. Grants range from $10,000 to $50,000 based on prior year revenue. Preference is given to businesses that did not receive previous state assistance exceeding $10,000.

Minnesota SF4972 modifies the PROMISE grant program to support businesses affected by racial discrimination and civil unrest.

Minnesota SF4972 amends the PROMISE grant program to provide financial assistance to businesses in communities adversely affected by structural racial discrimination and civil unrest. Eligible businesses must be located in Minnesota, have gross annual revenue of $750,000 or less, and demonstrate financial hardship or lack of access to capital. Grants range from $10,000 to $50,000 based on prior year revenue. Preference is given to businesses that did not receive previous state assistance exceeding $10,000.