The Promise Act...opportunities for business investment!
- UNBA
- Dec 1, 2023
- 1 min read
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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