Three Organizations Grant $2.5M to Help Rebuild the Twin Cities
Funds to Support Small Businesses in Cultural Corridors
June 25, 2020
Greater Twin Cities United Way, The Minneapolis Foundation and the Saint Paul & Minnesota Foundation today announced they will distribute $2.5 million in funding from the “Twin Cities Rebuild for the Future Fund.” The grants will provide emergency support for small businesses owned by Black people, Indigenous people and people of color in areas most impacted by the unrest following the murder of George Floyd, including Lake Street in Minneapolis, North Minneapolis and University Avenue in Saint Paul.
Grantees and Use of Funds
The nonprofit organizations receiving grants have strong relationships and experience working with the affected businesses, as well as expertise in rapidly deploying support. They also have a deep understanding of the culture, language and needs of the businesses impacted.
- African Development Center
- African Economic Development Solutions
- American Indian Community Development Corporation
- Asian Economic Development Association
- Black Women's Wealth Alliance
- Lake Street Council
- Latino Economic Development Center
- Neighborhood Development Center
- New American Development Center
- Northside Economic Opportunity Network
- Northside Funders Group in partnership with West Broadway Coalition
Grantees will use the funding for:
- Direct Financial Assistance: Distributing cash to business owners to pay for repairs and relocation expenses and to support their loss of income.
- Technical Assistance and Systems Navigation: Helping small business owners navigate insurance filing, financial and legal considerations, merger strategies and business compliance.
- Communications: Disseminating factual information in the native language of business owners.
In just two weeks, 200 individuals as well as 22 companies and foundations invested in the Twin Cities Rebuild for the Future Fund, including: 3M Foundation, American Family Insurance, Ameriprise Financial, BMO Harris Bank, Boston Scientific, Bremer Bank, The Bush Foundation, CHS Inc., Cummins, Inc., F.R. Bigelow Foundation, General Mills Foundation, Greater Twin Cities United Way, KGPCo, maurices, Mardag Foundation, Medtronic Foundation, Securian Financial, the Saint Paul & Minnesota Foundation, Securian Financial, The Minneapolis Foundation, The Toro Company and Wells Fargo.
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