PROMISE Act Grants
Supported by the PROMISE Act funded by the Minnesota Legislature, 47 Central Minnesota small businesses received grants ranging from $10,000 to $50,000 during the program’s first round in 2024.
The Initiative Foundation anticipates administering a second round of PROMISE Act grants in June 2025. Funded by the Minnesota Legislature and guided by the Minnesota Department of Employment and Economic Development (DEED), PROMISE Act grants ranging from $10,000 to $50,000 are awarded to businesses to invest in existing operations or planned growth. This is a very competitive process. Not all who apply can expect to receive a grant.
We’re Here to Help
Learn more about the Initiative Foundation’s business services and subscribe to our small business and economic development newsletter to receive news, information and updates about workshops, training opportunities and granting initiatives. Small business owners can also visit our support page to complete an interest form for one-on-one guidance or to request access to FREE online, on-demand business training courses.
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Contact Us
Reach out with questions. We’re happy to help. The application for the next round of PROMISE Act grants is anticipated to open on June 2.
