Is your business a fit for Promise Act Grant money?

The Minnesota Chamber of Commerce reports from 2024 and 2025 show small businesses in Minneapolis alone are struggling with high operational costs and economic uncertainty. About half of the respondents in a July 2025 survey reported declines in revenue and profits. 

Many could benefit from the more than $60 million in state funding through the MN PROMISE Act.

“The promise act gave me the opportunity to strengthen my business and continue serving families, and for that I am grateful,” said Sally Boyd, who owns and runs Personality Childcare Learning Center in North Minneapolis.

Signed into law by Governor Tim Walz during the 2023 legislative session, the MN PROMISE Act was created and designed to provide financial support to small businesses in communities adversely affected by structural racial discrimination, civil unrest, and lack of access to capital.

“The money I received allowed me to update materials and supplies for my childcare center,” Boyd said. “It helped me structure and refresh my classroom to better serve families, giving support and stability to working parents who rely on my daycare daily.”

Boyd has owned her childcare center for more than 20 years, educating over 400 children, many of whom are multigenerational. Personality Childcare Learning Center has been awarded a Parent Aware rating, an honor that certifies facilities that go above and beyond licensing requirements to support school readiness.

“I really enjoy teaching and nourishing all children,” Boyd adds, "at Personality Child Care Learning Center, my focus isn’t just on basic learning, but on emotional development too. We currently have open enrollment for parents who are looking for a safe and fun place for their child to grow and learn!"

But, like any small business, Boyd was looking for a little help. She applied for funding through the MN PROMISE Act during its first round of distribution.

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.

The first round in 2024 drew 6,000 applicants, 650 of whom were awarded a total of $9.5 million in grant money.

Boyd wants business owners to consider applying and says there is help with the process. “They tell you different ways to get support and exactly what documents to download and what to do.”

Boyd said if the process is still confusing, applicants can get face-to-face help at information sessions and help centers. “All those details are in the emails they send to you,” Boyd added.

The second round of the MN PROMISE Act application portal is open until Dec. 14, 2025. Applicants need to operate within eligibility areas noted on the website at: https://www.mnpromiseact.org/map and include specific communities within Minneapolis and St. Paul, as well as communities in greater Minnesota.

Businesses applying for the MN PROMISE Act must be registered with the Minnesota Secretary of State, have filed a 2024 tax return, generate a gross annual revenue of $750,000 or less, and meet other eligibility criteria, which can be found online at mnpromiseact.org. You can also join MN PROMISE Act Round 2 Information Sessions now being offered over Zoom. Find the list of events at https://www.mnpromiseact.org/events.

###