Minnesota Statutes 116J.682 – Small Business Assistance Partnerships Program
Subdivision 1.Definitions.
(a) For the purposes of this section, the terms in this subdivision have the meanings given.
Terms Used In Minnesota Statutes 116J.682
- Commissioner: means the commissioner of employment and economic development. See Minnesota Statutes 116J.03
- Small business: means a business entity organized for profit, including but not limited to any individual, partnership, corporation, joint venture, association or cooperative, which entity:
(1) is not an affiliate or subsidiary of a business dominant in its field of operation; and
(2) has 20 or fewer full-time employees; or
(3) in the preceding fiscal year has not had more than the equivalent of $1,000,000 in annual gross revenues; or
(4) if the business is a technical or professional service, shall not have had more than the equivalent of $2,500,000 in annual gross revenues in the preceding fiscal year. See Minnesota Statutes 645.445
(b) “Commissioner” means the commissioner of employment and economic development.
(c) “Partner organizations” or “partners” means:
(1) nonprofit organizations or public entities, including higher education institutions, engaged in business development or economic development;
(2) community development financial institutions; or
(3) community development corporations.
(d) “Small business” has the meaning given in section 3 of the Small Business Act, United States Code, title 15, § 632.
(e) “Underserved populations and geographies” means individuals who are Black, Indigenous, people of color, veterans, people with disabilities, people who are LGBTQ+, and low-income individuals and includes people from rural Minnesota.
Subd. 2.Establishment.
The commissioner shall establish the small business assistance partnerships program to make grants to local and regional community-based organizations to provide small business development and technical assistance services to entrepreneurs and small business owners.
Subd. 3.Small business assistance partnerships grants.
(a) The commissioner shall make small business assistance partnerships grants to local and regional community-based organizations to provide small business development and technical assistance services to entrepreneurs and small business owners. The commissioner must prioritize applications that provide services to underserved populations and geographies.
(b) Grantees shall use the grant funds to provide high-quality, free or low-cost professional business development and technical assistance services that support the start-up, growth, and success of Minnesota’s entrepreneurs and small business owners.
Subd. 4.Report.
By January 31 of each year, partner organizations participating in the program must provide a report to the commissioner on the outcomes of the program, including but not limited to the number of entrepreneurs and small businesses served, number of hours of business assistance services provided, number of new businesses started, number of full-time equivalent jobs created and retained, and demographic and geographic details of the individuals being served.