Northwest Minnesota Foundation seeks applicants for PROMISE Act grants

BEMIDJI — The Northwest Minnesota Foundation is seeking funding proposals for its PROMISE Act grants to provide financial support to small businesses and nonprofit organizations in northwest Minnesota to invest in existing operations or planned growth.

The PROMISE (Providing Resources and Opportunity and Maximizing Investments in Striving Entrepreneurs) Act program was created and funded by the Minnesota Legislature to drive fair economic recovery by boosting small, rural and minority-owned businesses, which face the largest barriers to accessing capital and resources, a release said.

According to the release, The Northwest Minnesota Foundation, in partnership with the Department of Employment and Economic Development, has been awarded $2.3 million to disperse one-time grants up to $50,000 to businesses and qualified nonprofits.

https://www.bemidjipioneer.com/news/local/northwest-minnesota-foundation-seeks-applicants-for-promise-act-grants