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Businesses in Minnesota To Receive a Share of $2.7 million in State Funding

Businesses in Minnesota To Receive a Share of $2.7 million in State Funding
Non-profit businesses in Minnesota who focus on helping women-owned companies are eligible to participate in the state's $2.7 million in funding. The purpose of the funding is to provide more assistance to emerging businesses in the state owned by women and other targeted groups.

Who is eligible

Non-profit organizations that provide business assistance to targeted groups such as women, minorities, rural residents, innovative startups, entrepreneurs and inventors are eligible for two-year grants that are being offered through the state's Business and Community Development Competitive Grant Program. A total of 11 non-profits have received grants from the program.

The grants ranged from $84,000 to $420,000. The companies who were awarded grants offered services that included small-business training and consultation in low-income neighborhoods, assistance to businesses owned and managed by entrepreneurs of color, training and technical assistance to African immigrants and refugees, and assistance to women entrepreneurs, low-income entrepreneurs and women-owned businesses.

The Minnesota Department of Employment and Economic Development (DEED) is the state’s principal economic and community development agency.

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