Governor Walz approves $62 million for small businesses impacted by COVID-19

Businesses with 50 or less employees can apply for up to $10,000.

ST. PAUL, Minn.–Gov. Tim Walz signed a bill on Tuesday approving $62 million in grants for small businesses impacted by COVID-19.

The bill includes $60 million from the federal CARES Act and $2.5 million from DEED’s Emergency Loan Program.

Half of the funding will go to Greater Minnesota businesses, at least $10 million will go to minority-owned businesses, $2.5 million to veteran-owned businesses, $2.5 million to women-owned businesses and $2.5 million will support cultural malls.

Businesses with 50 or less employees can apply for up to $10,000.

Gov. Walz said, “One of our top priorities during this special legislative session is to build a stronger and more equitable economy, and this direct assistance is an important piece of that plan. We will continue working with the legislature to ensure Minnesota’s economic recovery lifts up our Black, Brown, Indigenous, veteran, female, and Greater Minnesota business owners, who have been hit hard by this pandemic.”

More information about applying for the grants can be found at mn.gov/deed/.