Business & Tech
City Of St. Louis Park Announces Emergency Grant Program For Small Businesses
To be eligible for funding, a small business must demonstrate that its operations have been directly and adversely affected by coronavirus.
April 21, 2020
St. Louis Park small businesses who meet certain criteria may receive up to $5,000 in small business emergency assistance funds. This grant program was approved April 20, 2020, by the St. Louis Park Economic Development Authority (EDA) and was developed to help ensure the viability of the community’s small business community in the face of the COVID-19 health emergency.
Find out what's happening in St. Louis Parkfor free with the latest updates from Patch.
To be eligible for funding, a small business must demonstrate that its operations have been directly and adversely affected by the COVID-19 health pandemic and/or that it operates in a category named in State of Minnesota Executive Orders 20-04 and 20-08. Businesses must be located within St. Louis Park, have employed between 3 and 25 full-time employees at the time of Executive Order 20-04 (March 16); and make $1 million or less in annual gross revenue. Visit the small business emergency assistance page for the full list of eligibility requirements.
The EDA encourages all eligible St. Louis Park small businesses to apply for assistance under the program, especially those owned or managed by women, people of color, people in the indigenous community or veterans.
Find out what's happening in St. Louis Parkfor free with the latest updates from Patch.
One-time emergency grants of up to $5,000 will be awarded to applicants who meet eligibility and scoring requirements. Funds must be used within two months of receipt and can be used for current payroll obligations, lease or mortgage payments, utilities, accounts payable, property taxes and other critical business expenses that can’t be paid as a result of the current health emergency.
The initial application period will be Tuesday, April 21, through 4:30 p.m. Monday, April 27. Applications received during this time will be evaluated starting Tuesday, April 28, with grants provided to businesses that meet eligibility requirements. After April 27, applications will be evaluated as they are submitted until funds are fully committed.
Visit the small business emergency assistance page for the full list of eligibility requirements and to complete an online application.
This press release was produced by the City St. Louis Park. The views expressed here are the author’s own.