The Initiative Foundation's mission is to empower people across Central Minnesota to build a thriving economy, vibrant communities, and a lasting culture of generosity.
The Initiative Foundation is offering $1.1 million in grants to small businesses in Central Minnesota through the PROMISE Act funded by the Minnesota Legislature. These one-time grants, ranging from $10,000 to $50,000, are aimed at businesses looking to invest in their existing operations or in planned growth. The grant program is competitive, and not all applicants can expect to receive funding. It emphasizes assisting those businesses that face significant obstacles in obtaining financial aid and resources, thereby promoting equitable economic development in the region. Future rounds of funding are planned, with another program scheduled for 2025. Applicants can also access free technical support to help prepare their applications.
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