Lake of the Woods County Awarded $250,000 For Small Business Grants

Grants Lake of the Woods

Per the COVID Relief Bill signed by Governor Walz on December 16, 2020, Lake of the Woods County is being awarded $250,000 to provide grants to local businesses and non-profits impacted by the current pandemic.  The Lake of the Woods Economic Development Authority will solicitation, review, and authorize grant awards on behalf of Lake of the Woods County to eligible businesses in the County.

For Application Materials, Click Here

Grant Eligibility:
•                     Businesses and non-profits must be located in Lake of the Woods County
•                     Businesses must have no tax liens as of date of application
•                     Businesses must be registered with the MN Secretary of State –Active & in Good-Standing
•                     Business must demonstrate a decline in revenue from 2019 to 2020
•                     New businesses may apply and will be evaluated based on demonstrated pandemic impact
•                     Businesses with physical storefronts and employees will be given priority over self-employed and home-based businesses
•                     Non-profit organizations that have business-like revenue sources are eligible, (i.e. product/service sales, ticket sales, membership fees)

Grant Information: Maximum grant amount per legal business/non-profit entity is targeted at $20,000; however, award amounts will be based on the number of eligible applications received and funding priorities. Click here to view eligible expenses and more details.

Applications will be evaluated primarily on the impact of public health closure and revenue decline from 2019 to 2020. However, data will be collected on several other factors that may influence the award amount such as fixed operating costs, COVID Relief funding to-date, and industry.

For Application Materials, Click Here

Completed Application Forms should be emailed to rzemek@hrdc.org

Should you have any questions, please contact Ryan Zemek, 218-333-6541

Application deadline: January 29th, 2021 (5:00 pm)