Application for Grow Minnesota

"Ready to Grow" Financial Assistance Grant and Loan Application

The Minnesota Chamber of Commerce Foundation and Grow Minnesota! are pleased to introduce the Pohlad Family Foundation's Ready to Grow pledge to help small Minnesota businesses retain jobs and plan for their future growth.

Eligible small businesses must be privately held, have fewer than 50 employees, generate annual sales of $10 million or less. Loan applicants must have been turned down for a loan by a banking institution.

Funds will be distributed in four categories:

Grants to retain valued employees while planning and making adjustments for future success, up to $50,000 for each retained job, up to four positions per business; or
Grants up to $10,000 for a consultant to assist with business planning; or
Short-term, low interest (3%) working capital loans up to $50,000 to continue business operations or
Short-term, low interest (3%) capital improvement loans up to $50,000 to finance improvements consistent with the company's strategic plan.

Application deadline is May 25, 2009. See the "Get Ready to Grow" application for details. For those who may not qualify, see the Business Connection website for alternative programs.