Applications open October 8 for round two of the Olmsted County Small Business Relief grant program
10/7/2020

Olmsted County and RAEDI logos
As part of its investment plans for $19.1 million in funds from the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Olmsted County Board of Commissioners announced on October 6, 2020 that it is allocating a second round of grant dollars for economic support to organizations affected by COVID-19 in the amount of $1.17 million.

“Olmsted County is pleased to partner with Rochester Area Economic Development, Inc. (RAEDI) again on round two of the grant dollars to provide relief to local businesses during this time of hardship,” said Olmsted County Chief Executive Officer Wilfredo Román Cátala.

RAEDI will begin accepting grant applications online at www.raedi.com on Thursday, October 8, 2020 at noon until Sunday, October 18, 2020 at 11:59 p.m.

This program offers grants up to $15,000 to small businesses physically located in Olmsted County that can demonstrate financial hardship as a result of the COVID-19 outbreak, specifically a 15% decrease in net profit or greater. Grant recipients will receive a base grant award of 50% of net losses from March 1 - June 30, 2020, or $15,000, whichever is less.

Priority will be given to businesses:

  • Directly impacted by Governor Walz’s Executive Orders to close.
  • That employ six or fewer people.
  • That are majority owned by military veterans, women, and/or ethnic or racial minorities.
  • That have not received funding from other government sources.

Any business started before March 1, 2020 is welcome to apply. Home-based businesses and grant recipients from the first round of the program are not eligible. Grant funds received by businesses can be used to cover business expenses since March 1, 2020.

“The pandemic continues to negatively affect many of our area’s businesses,” said RAEDI Board Chair John Wade. “Through this partnership with Olmsted County, we hope these CARES Act dollars can provide some assistance to those businesses that are hurting and help them through this ongoing situation.” 

Full details about the application process are available on the RAEDI website now at www.raedi.com.