Financial Resources

List of US Small Business Grants Available to Women

General Small Business Relief Document, sorted by US State

LISC Small Business Relief Grants
9/1 Update

The Round 6application period is now open.Click hereto apply. Your application must be submitted by Monday, September 7th,11:59 p.m. ET.Before completing the application, please review theGrant Information and FAQ.

Please keep the following in mind:

  • For business owners with multiple businesses, please answer this survey based on your largest business owned.
  • Each awardee is limited to one grant.
  • Grants will be made to qualified businesses and based on accurate and complete submission and verification of required documentation.
  • This round of applicationsmust be submitted byMonday, September 7th, 11:59 p.m. ET.

If you have questions not answered by the FAQ, please emailsmallbusinessgrants@lisc.org. The LISC ismonitoring this inbox and updating the FAQ accordingly.

City of BloomingtonSmall Business Emergency Assistance Loan Program
7/27/30 Update

The Small Business Emergency Assistance Loan Program (SBEAL) was created as a means to assist businesses within the City of Bloomington, which have been negatively impacted by the COVID-19 pandemic. The SBEAL program offersforgivable loansto eligible businesses within the City of Bloomington andis administered by the City andPort Authority staff, with administrative assistance from the Metropolitan Consortium of Community Developers (MCCD) and other community partners.

Program details

The program has a total of $1,300,000 available for assisting businesses:

  • $1,000,000 for small businesses
    • a maximumforgivable loanamount of $7,500
  • $300,000 for self-employed/independent contractors
    • a maximumforgivable loanamount of $3,000

Eligible expenditures

The SBEAL Program may be used for working capital purposes, examples include:

  • Paying fixed debts (mortgage and rent)
  • Payroll costs
  • Accounts payable
  • Utility payments
  • Inventory costs
  • Paying other direct business-related bills

Program criteria:

  • Must have been impacted by theCOVID-19 global pandemic, particularly businesses deemed non-essential by the State of Minnesota or those which have faced temporary closures per State of Minnesota executive orders, with a physical address located in the City of Bloomington; and
  • Operated within the City on or beforeSeptember 15, 2019; and
  • Employ one to 20 FTE (full-time equivalent) employees at the location address, the business must have a physical non-residential address within the City of Bloomington, proof of address shall be verified with the application, OR independent contractor OR self-employed persons may apply for funding, must have proof of a non-residential or home-based business and/orappropriate business licensing; and
  • Annual gross revenue that does not exceed $2,000,000;
  • Be a legal entitypermitted to do business in Minnesota; and
  • Be in compliance with city ordinances, codes, licensing, andhaveno unpaidtax bills or charges due to the City from before February 2020.

Learn more and apply

We Love Saint Paul/ We Love Midway
7/27/30 Update

The Saint Paul Area Chamber of Commerce in partnership with theMidway Chamberand the Saint Paul Downtown Alliance has established grant fund for small businesses in the City of Saint Paul.

Their goal is to reach the companies and nonprofits, which suffered damage to their physical location or property loss during the unrest following the murder of George Floyd. We also want to work in partnership with other funds to ensure we can meet more requests and help businesses fund more completely their needs.

Awards are made on a rolling basis until the funds run out. No deadlines for applications, grants are made bi-weekly.

Eligibility includes:

  • Must be a small business or a nonprofit organization
  • Operate out of a physical establishment located in one of the following areas:
    • The Midway and within the service area of the Union Park or Hamline Midway district councils
    • In the City of Saint Paul.
  • Have operated & conducted business at the same location within the City of St. Paul for at least three months.
  • Must demonstrate physical damage and/or property loss from unrest after May 25, 2020. Damage includes, but is not limited to: broken windows, doors, fire, or other damage to the structure of the commercial property) and/or loss of business property (i.e. theft or destruction of cash, inventory, equipment, or furnishings.
  • Commitment to attempt to keep the organization in the City of St. Paul for at least 1 year from May 25, 2020.

Please click here for more information and details on grant parameters.

The Drivers Diversion Program
7/27/20 Update

A valid driver's license is a needed tool to just being able to move on in life- to shop, worship, and to visit family and friends. Furthermore, it is a required tool for most job locations and opportunities.Drivers Diversion Program (DDP), permits qualified applicants to drive legally while paying off fines and fees.Follow these steps to see if you qualify and how Microgrants (MG) might help.

Step 1) Applicant completes the State waiverand sends it to DDP to see if they qualify for the DDP program. There is no cost or obligation in completing the waiver. DDP will call applicant in back in 4-7 days to let them know the results and next step details.

Step 2)Approved applicants will alert MG partner agency contact of the Waiver decision and what the total amount owed is. MG Partner agency contact will then complete the online application with MG and will communicate with applicant details of the award.

Step 3) Once MG application is submitted, the applicant calls DDP and receives all details on the program and schedules a required 1-hour online class. Ongoing monthly payments are negotiated to be affordable with participant, based on ability to pay. Participants pay their monthly payments until they reach 50% of the total due. MG will grant the final 50% due up to $1200.00.

Step 4) After completing the DDP class, DDP will assist participants in securing required vehicle insurance and provide the next steps that may be required by DVS, like testing. This will start the process of reinstating your license with DVS.

Step 5) DDP informs MG when the participant has successfully paid the first 50% of the fines and fees or up to a remaining balance of 1200.00.

For more information contact Tom@diversionsolutions.net|612-210-2611

Ramsey County Small Business Relief Program

Ramsey County has remaining CARES Act funds to assist businesses that may have experienced financial strain as a result of the COVID-19 crisis. This will be the last grant round for 2020, and applications will be accepted on a rolling basis until December 4th, or funds are exhausted, whichever comes first.
Click here for eligibility requirements and how to apply

Hennepin County Small Business Relief Program

The rapidly increasing number of COVID-19 cases throughout the state of Minnesota has required new public health measures to reduce the spread of the virus, including restrictions on restaurants, bars, gyms, and other fitness, event, and entertainment venues. Starting Monday, November 23, businesses can apply for new grant funding to mitigate the economic impacts of COVID-19.

  • Businesses that have not previously received Hennepin County Small Business Relief funds can apply for grants up to $15,000.
  • Businesses that have received Hennepin County Small Business Relief funds can apply for additional grant funds up to $10,000

Click here for eligibility requirements and how to apply

Minnesota Gap Funding

With $2.2 million in city funds, theMinneapolis Gap Funds for Small Businessesinclude a new Small Business Debt-free Fund for companies with 20 employees or less and people who are self-employed along with a revamped 2% loan program, adjusted to 0%.The new Forgivable No-Interest Loans for Small Business will come in fixed amounts of $5,000 or $10,000, depending on need resulting from the COVID-19 emergency.Check the site for eligibility requirements. Application information has not yet been released.

SBA

The US Small Business Administration has several programs designed to provide funding to small businesses affected by COVID-19. Click here for the latest information on their loan programs.

Paycheck Protection Program

The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses. If you maintain your workforce, SBA will forgive the portion of the loan proceeds that are used to cover the first 8 weeks of payroll and certain other expenses following loan origination.

SBA has FAQs for the program and provided specifics on calculating maximum loan amounts by business type. Additionally, you can now apply for PPP Loan Forgiveness.

PPP Loan Forgiveness Application | Effective May 15, 2020

Under this program:

  • Eligible recipients may qualify for a loan up to $10 million determined by 8 weeks of prior average payroll plus an additional 25% of that amount.
  • Loan payments will be deferred for six months.

View a list of approved lenders
NOTE: WomenVenture does not administer PPP loans.

APPLY:PPP Loan Forgiveness Application|EffectiveMay 15, 2020

PPP: A How-To Guide on Applying| How to Prepare your PPP Application| PPP Loan ForgivenessCalculator

EIDL Loans

On June 15, SBA will begin accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications from qualified small businesses and U.S. agricultural businesses.

Small business owners and qualified agricultural businesses in all U.S.states and territories are currently eligible to apply for a low-interest loan due to Coronavirus (COVID-19).

Eligibility:

Learn More | Apply

Keeping youinformed

To get the most up-to-date information as things develop, visit www.sba.gov/disaster and subscribe to theire-newsletter via www.sba.gov/updates. Also, you can find them on Twitter at @sba_Minnesota for frequent updates as well.

*The SBA recommends you complete your application online.

Avoid Scams

SBA loan scam targets MN business owners
Real-looking emails about emergency loan applications claim to be from the Small Business Administration. They’re really a COVID-19 ‘phishing’ scam.

If you have received an email withsba.help in the email address, text, etc, please forward the emailor send a screenshot to info@womenventure.org to send to the SBA. This is a scam and you should not click on any links within, or otherwise interact.

DEED Disaster Loans

The Minnesota Department of Employment and Economic Development (DEED) will offer $10,000 grants to Minnesotan-owned and operated businesses that can demonstrate financial hardship as a result of the COVID-19 outbreak. A total of $60.3 million is available for grant awards which will be selected through a computer-generated, randomized selection process.

Awards will be disbursed and administered by qualified local and regionally based nonprofit organizations. Grant funds received by individual businesses shall be used for working capital to support payroll expenses, rent, mortgage payments, utility bills, and other similar expenses that occur or have occurred since March 1, 2020, in the regular course of business. These are grants and no repayment will be required.

If your business plans to apply, please click here for the online grant application link. Applications will be accepted BY LAW FOR A 10-DAY PERIOD BEGINNING Tuesday, June 23 through Thursday, July 2.

Learn More

IRS Information

MN has not followed the IRS yet: There is a discrepancybetween IRS and MN on payment dates for 1stQuarterestimates. Stay tuned for updates.