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 MN PROMISE Act: Saint Paul success stories
The MN PROMISE Act is a new, state-funded program that provides loans and grants to disadvantaged small businesses located in certain areas of Minneapolis and Saint Paul.
Funds from the loan program (which are being administered by the Metropolitan Economic Development Association (MEDA)) are already flowing into Saint Paul and making a huge difference in our community.
Hear directly from two local owners who have received funding, as they discuss the positive impact the program is having on their businesses.
Feisal Mohamed, owner of Sunshine Group Home
Feisal Mohamed, the owner of Sunshine Group Home in Saint Paul, is the first MN PROMISE Act loan recipient! He is utilizing the loan funds to fully purchase the building at 125 Magnolia Avenue, a property his business has rented for their operations since February 2022.
"So many of our local businesses have struggled due to not having enough support and access to resources,” said MEDA President and CEO Dorothy Bridges. “We are delighted to see Sunshine Group Homes receive the first loan to secure its location and bolster its impact on the Saint Paul area.”
Angie Trugg and Marlo Munch, owners of Paikka
Angie Trugg and Marlo Munch, the owners of Paikka event center, received a loan to renovate their space at Vandalia Tower (550 Vandalia Street).
"Getting this money from MEDA and the state is an incredible opportunity for us to reset our business after four very hard years post pandemic,” said Munch. "We own an event venue, so that business really struggled."
More PROMISE Act information
Eligible Saint Paul businesses, nonprofit organizations, and developers can apply now for the loan program, which must be used for capital improvements, such as buying a building or a business renovation or expansion.
The application for the PROMISE Act Grants will open later this spring. Grant funds 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.
Learn more about who is eligible, the application process, and what you need to know to apply for MN PROMISE Act funding at a virtual information session on Wednesday, May 22 from 5:30 p.m. - 6:30 p.m.
Also, be sure to sign up for the MN PROMISE Act newsletter to stay up-to-date on the latest program information and resources.
Celebrate National Travel and Tourism Week in Saint Paul!
Visit Saint Paul is hosting business networking events celebrating National Travel and Tourism Week, and you’re invited! Join for:
Visit Saint Paul is the only organization dedicated to promoting Saint Paul as the best place to eat, drink, and explore, and they would love to have your business involved! They offer connections, visibility, resources, and ways to engage to help you grow your business and maximize your role in Saint Paul's travel and tourism economy. Resources include:
- Your own customizable webpage on VisitSaintPaul.com
- Leads and referrals
- Inclusion in visitor print materials such as the official visitor guide and maps
- Digital marketing assets such as an event calendar, email campaigns, social media, and blogs
- Invitation to networking events, bringing Saint Paul businesses together
- Information sharing, collaboration, and so much more
For more information and to find out how to get involved, reach out to Chelsea at cfey@visitsaintpaul.com.
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 Neighborhood STAR applications due Wednesday, May 15
Don't miss out! Applications for the City of Saint Paul’s 2024 Neighborhood STAR program are due Wednesday, May 15 at 4 p.m.
The Neighborhood STAR program funds capital projects in Saint Paul neighborhoods. To be eligible for a STAR grant, an applicant must:
- Be located in or do business in Saint Paul
- Make a capital improvement with an expected life of 7+ years
- Have a project that contributes to the prosperity, cultural diversity, and vitality of Saint Paul neighborhoods
"I would like to express my gratitude for the positive impact of the STAR program on both my business and our local community," said Nancy Lor, owner of Nancy's Beauty Salon (1324 Rice Street) and recent STAR recipient. "As a single mother running a business that has served our community for over 20 years, the resources provided through this program have been invaluable."
Could your business or organization benefit from a grant for a capital improvement project? Details on eligibility, application requirements, and the evaluation and selection process are available in the program guidelines. The guidelines are available in English, Spanish, Hmong/Hmoob, Somali, and Karen.
Apply for the Rondo Community Land Trust Business Incubator
The new Small Business Incubator Program from the Rondo Community Land Trust (CLT) offers affordable, sustainable commercial real estate options tailored to meet the needs of emerging businesses. By leveraging the residential land trust model for commercial use, Rondo CLT is able to provide commercial spaces at significantly reduced rates, starting at just $7 per square foot. Apply now or reach out to felicia@rondoclt.org with any questions.
Get free business counseling through Open to Business program
The Open to Business program provides direct technical assistance and other forms of support to small business owners and entrepreneurs at no cost. All current business owners and aspiring entrepreneurs intending to establish, purchase, or improve a business in Saint Paul are eligible and encouraged to participate.
No-cost, confidential business counseling is available monthly to current and prospective entrepreneurs. Grab your spot for an upcoming session from 1 - 3 p.m. on Tuesday, June 4 at the Highland Park Library. or Thursday, June 6 at the Rondo Community Library.
Waste Reduction & Innovation Grant applications due June 14
The BizRecycling Waste Reduction & Innovation Grant is available to eligible businesses, nonprofits, and schools for planning, equipment, supplies, and capital improvements that result in the significant reduction of solid waste that the business creates. The 2024 application submission deadline is Friday, June 14 at 4 p.m.
New Business Bridge Supplier Toolkit from GreaterMSP
The GreaterMSP Business Bridge coalition has published a new Supplier Toolkit. This free online resource for small- and mid-sized businesses gives tips for success in securing corporate contracts and includes how-tos on researching contracting opportunities, building relationships with decision-makers, growing business capacity to become contract-ready for clients, and responding to invitations to bid.
ESNDC announces East Side Technical Assistance Program
Big news from East Side Neighborhood Development Company (ESNDC)! Their new East Side Technical Assistance Program provides in-depth one-on-one and group technical assistance to East Side entrepreneurs to enable them to access the capital to launch, grow, or stabilize their business. Email Anne DeJoy or Matt Anderson to learn more.
Connect with small business support from the City of Saint Paul
The City of Saint Paul can connect you to a variety of programs and referrals to support small businesses. If you would like business resource support from our team, the first step is to submit an Intake Form. Reach out today to learn more about what programs can help you reach your business goals!
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Upcoming events
Saturday, May 11
12 p.m. - 1 p.m.
George Latimer Central Library
May is Tech Month in Saint Paul! Join educators Devin Boeing and Brayden Roberts as they highlight inherent biases and flaws in AI models to prepare you for the growing AI landscape. This workshop is a special preview of an upcoming series in July 2024 (dates TBD). The three-part series in July, "AI - Skills, Ethics, and Passing Time," will dive into prompt engineering skills, ethical considerations, and the future of work.
Tuesday, May 14
2 p.m. - 3 p.m.
Virtual event
The Minnesota Department of Employment & Economic Development (DEED), Office of Small Business and Innovation is offering a monthly meeting for small business owners to have a conversation with business experts and their peers. For May, join representatives from the Minnesota Pollution Control Agency (MPCA) to learn about new rules being implemented that may impact small businesses.
Tuesday, May 14
2 p.m. - 3 p.m.
Virtual event
In this session from Project Equity, you can learn about employee ownership, and how it can be used to build a succession plan and a tool for employee retention and business resiliency. Project Equity also offers free one-on-one advising to any business owner who wants to learn more and explore a transition to employee ownership. Reserve your spot.
Wednesday, May 15
11 a.m. - 1 p.m.
Rice Park
Come learn more about the many transit, sidewalk, and street improvement construction projects happening in downtown Saint Paul this year and in the near future. Talk with project staff from the following organizations: City of Saint Paul Public Works, City of Saint Paul Parks and Recreation, Evie Carshare, Metro Transit, MnDOT, Ramsey County, Move Minnesota, and more.
Saturday, May 18
1 p.m. - 4 p.m.
George Latimer Central Library
Innovation Day is another way to celebrate Tech Month in Saint Paul. All ages are invited to Innovation Day to explore tech resources and opportunities. Take a tour the Innovation Lab, explore the equipment, and take part in fun activities, including green screen demos, laser engraving, 3D printing, and paper circuits. No registration required.
Tuesday, May 21
8:30 a.m. - 12:30 p.m.
Saint Paul RiverCentre
Get united with 2,000 ambitious, creative, and motivated Minnesotans and meet people who can collaborate to help each other solve problems. SBA's Minnesota District Office will also host a hands-on workshop designed to help entrepreneurs connect, collaborate, and build community with other innovators, leaders, and doers. The registration fee is $20.24 to hold your spot (however you'll get a full refund when you participate on May 21).
Wednesday, May 22
8:30 a.m. - 3:00 p.m.
Virtual event
During the Small Business Administration's Federal Contracting Virtual Matchmaker, you will meet virtually with contracting experts and federal agency representatives from all over the Midwest to learn how to do business with their agencies and discover where your business may be a fit. Be sure to have your capabilities statement available!
Wednesday, May 22
5:30 p.m. - 6:30 p.m.
Virtual event
Join the MN PROMISE Act team to get an overview of the program and to learn more about who is eligible, the application process, and what you need to know to apply. The PROMISE Act is a new program provides grants and loans to disadvantaged businesses located in certain areas of Minneapolis, Saint Paul, and greater Minnesota.
Wednesday, May 22
11:30 a.m. - 1 p.m.
MEDA Office
Entrepreneurs and small business owners are invited to a free luncheon to learn more about non-traditional financing options. The program will be hosted by Amplio, a nonprofit certified development company whose purpose is to help small businesses obtain financing. Attendees will learn about sources for funds that can be used in conjunction with conventional financing, or to assist with business start-up costs. Lunch provided. RSVP by Friday, May 17 at rsvp@amplioedc.com.
Thursday, May 30
1 p.m. - 2 p.m.
Virtual event
The Shared Ownership Center at Nexus Community Partners invites you to learn more about the LOCAL Fund, an initiative of the City of Saint Paul. The info session will outline the LOCAL Fund's qualification criteria and discuss worker-cooperatives, real estate investment cooperatives, and their impact on the community. Register today.
Tuesday, June 4
9 a.m. - 10 a.m.
Virtual event
This procurement webinar from the Minnesota Small Business Administration (SBA) District Office will dig into capability statements. Be prepared to present your company in a professional and concise manner, all on one page. Learn key information that customers need from potential vendors. Understand how and why a capability statement should be used with government agencies.
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Check out current solicitations from the City of Saint Paul
The City of Saint Paul's Procurement Division is accepting electronic proposals for a number of projects, including one for language and interpretation services (Event 1404). If you have a small business that provides these services and are interested in doing business with the City of Saint Paul, consider applying to become a contractor for the City. Bids are due by Thursday, May 30 at 3 p.m.
City of Saint Paul minimum wage increases coming July 1, 2024
Under the City of Saint Paul's minimum wage ordinance, business size matters. Starting July 1, 2024, the minimum wage rate for specific business sizes will increase. The large business (101 - 10,000 employees) wage rate will increase to $15.57. The small business (6 - 100 employees) wage rate will increase to $14.00, and the micro business (5 or fewer employees) wage rate will increase to $12.25. The wage rate for macro businesses (those with more than 10,000 employees) remains at $15.57 through 2024.
Employers must count all employees, whether employed full-time or part-time, jointly with another employer, or temporarily, including employees not located in Saint Paul. Please see our website for more information.
Apply for the Saint Paul Transportation Committee
Would you like to serve on the Saint Paul Transportation Committee?
This volunteer committee meets every other Monday from 4:30-6:00 p.m. in the City Hall Annex to advise on transportation projects and policies in Saint Paul, including those of other agencies.
No expertise is needed – just an interest and a willingness to serve. The committee is especially seeking people who can represent the local business community.
Apply online today (you will need to click “Transportation Committee” in left column, then “Apply” button in upper right of the page). Application review will begin Monday, June 3.
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