For Immediate Release – Owatonna, MN October 16,2025
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.
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.
Grant awards will be limited and approved on a competitive basis. Not all eligible businesses will receive a grant. Primary business operations must be located in SMIF’s region, which includes 20 counties and one Native nation. 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 opens October 16, 2025 and will close on November 17, 2025. For the application and guidelines visit smifoundation.org/promise. Contact Melissa Langer (melissal@smifoundation.org) or Brian Conzemius (brianc@smifoundation.org) with questions.
Want to know if this grant might be a good fit for your business? Download or complete Spring Valley EDA Grant Qualification Checklist here!
