SMIF Competitive Grants

Through a partnership with the Minnesota Department of Employment and Economic Development (DEED), Southern Minnesota Initiative Foundation (SMIF) will award $1.3 million in competitive grants to businesses in southern Minnesota to invest in existing operations or planned growth.

PROMISE Act Grant awards will be limited and approved on a competitive basis.

Primary business operations must be located in SMIF’s region, which includes 20 counties and one Native nation, including Goodhue and Wabasha Counties.

Grant awards will range from $10,000 to $50,000 and 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.

Businesses must earn $750,000 or less in gross revenue (based on prior year's (2024) taxes) to be eligible.

Additional eligibility requirements are listed on SMIF’s website.

The grant cycle will close on November 17th.

For the application and guidelines visit smifoundation.org/promise.