News: Hennepin County Housing and Redevelopment Authority approves $2 million for Small Business Recovery Fund
The Hennepin County Board of Commissioners, acting as the Housing and Redevelopment Authority (HRA), has approved $2 million to establish a Small Business Recovery Fund, a grant program supporting local businesses that have experienced significant financial hardship following the recent federal immigration enforcement surge.
Grants ranging from $3,000 to $10,000 will help cover up to two months of commercial rent or mortgage payments. Many small businesses, including immigrant-owned businesses and storefronts that anchor the county’s cultural corridors and business districts, have experienced reduced foot traffic, temporary closures due to safety concerns, workforce disruptions, and other impacts stemming from enforcement actions. The funding is designed to prevent widespread commercial vacancies and blight in the county.
To administer the program, Hennepin County has partnered with NextStage, a nonprofit community-based lender specializing in business advising and small business financing.
This funding is part of the county’s broader strategy to assist small businesses affected by heightened federal immigration enforcement, including resource sharing, onsite clinics, video guides on timely topics, and trusted messenger outreach through Elevate Hennepin advisors.
“Small businesses are the economic engine of our county and anything we can do to support them is so important,” said Commissioner Angela Conley, chair of the HRA. “I also want to uplift the direct outreach the Elevate Hennepin team is doing to support small businesses in this moment. It's such critical work.”
Key dates
- Application opens: 4 p.m. Wednesday, March 18, 2026
- Application closes: 4 p.m. Wednesday, March 25, 2026
Applications may be submitted at any time during the application period, with no priority given based on submission date.
Who is eligible
To be eligible for the grants, a business must be a locally owned, for-profit business with a physical establishment in Hennepin County that experienced significant loss in revenue during the period from December 1, 2025, to February 28, 2026, due to recent immigration enforcement actions. Significant loss will be defined as a 30 percent drop in gross revenue versus a comparable period.
Learn more about the Small Business Recovery Fund.
|
