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  • Writer's pictureUNBA

The Promise Act...opportunities for business investment!

NDC will host an information session on new Promise Act funding that will come available in 2024. The session will be December 11th.

The state funded PROMISE Act program is focused on distributing $79 million in grants and $24 million in loans to support the growth and repositioning of small Minnesota businesses who have a gross annual revenue of $750,000 or less (based on 2021 tax returns) and are located, or who operate in neighborhoods / communities that have been adversely affected by:

  • Structural racial discrimination

  • Civil unrest

  • Lack of access to capital

  • A loss of population

  • An aging population

  • A lack of regional economic diversification

The Minneapolis neighborhoods include areas of:

  • North Minneapolis - West Broadway, Camden & Others

  • South Minneapolis - Lake Street, 38th & Chicago, Franklin Avenue South, Nicollet Avenue, & Riverside corridors of South Minneapolis

Sessions on grants and loans will be held:

  • Monday, December 11, 2023

  • 10:00 AM 11:30 AM

  • Neighborhood Development Center

  • Tuesday, December 12, 2023

  • 9:00 AM 10:30 AM

  • Midtown Global Market

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