The Southern Minnesota Initiative Foundation (SMIF) is pleased to announce grants for small businesses in south central and southeastern Minnesota that are located within it’s service area which includes 20 counties and one Native nation.
Donor Name: Southern Minnesota Initiative Foundation
State: Minnesota
County: Selected Counties
Type of Grant: Grant
Deadline: 11/17/2025
Size of the Grant: $10,000 to $100,000
Grant Duration: Grant Duration Not Mentioned
Details:
This program looks to drive economic recovery in the region through grants to small businesses in south central and southeastern Minnesota experiencing lack of access to capital, loss of population or an aging population, or a lack of regional economic diversification.
Grant funds can be used for working capital to support payroll expenses, rent or mortgage payments, utility bills, equipment, and other similar expenses that occur in the regular course of business.
Funding Information
Grants can range from $10,000 to $50,000.
Uses of Funds
Businesses can use funds for working capital to support payroll expenses, rent or mortgage payments, utility bills, equipment, and other similar expenses that occur in the regular course of business.
Eligibility Criteria
- Eligible businesses will:
- Have primary business operations located in the State of Minnesota
- Be located in an eligible service area.
- Be registered with the Minnesota Secretary of State, if required by Minnesota State Law
- Sole proprietors operating their business under their own name do not need to be registered with the Secretary of State
- Have gross annual revenue of $750,000 or less based on the prior taxable year
- Maintain ongoing operations as of the date of application
- If the business location is the taxpayer’s residence, the business must have claimed and been allowed the deduction for home office expenses in the prior taxable year.
- Businesses will be awarded grant funds based on gross annual revenue in the prior taxable year.
- Businesses with gross annual revenue in the prior year of $100,000 or less can receive up to $10,000
- Businesses with gross annual revenue in the prior year of more than $100,000 but no more than $350,000 can receive up to $25,000
- Businesses with gross annual revenue in the prior year of more than $350,000 but no more than $750,000 can receive up to $50,000
- For the purposes of this grant program, business means both for-profit businesses and nonprofit organizations that earn revenue in ways similar to businesses. To be eligible, non-profits must meet at least one of the two definitions of an eligible non-profit:
- Definition A: A nonprofit organization that earns 30% or more of their revenue on an ongoing basis through a non-tax-deductible sales or dues in a fee-for-service model similar to for-profit businesses.
- Definition B: A nonprofit organization that earns 10% or more of their revenue on an ongoing basis through a non-tax-deductible sales or dues in a fee-for-service model similar to for-profit businesses AND demonstrate they maintain ongoing customer-facing operations at a permanent physical location at which some of those sales take place.
For more information, visit SMIF.
