Call for entrepreneurs and Business Ideas
The Faribault Area Chamber of Commerce in partnership with the Faribault Economic Development Authority is excited to announce the Downtown Micro Grant program. This program, now in its fourth year, is open to both proposed businesses and existing businesses in the Historic District. Awards range from $500 to $5000 and serves as a great resource for a beginning business. Applications will be available online or at the Chamber of Commerce office effective immediately, and will be accepted until June 1, 2022
The Downtown Micro Grant program will be administered by the Chamber’s successful Main Street Organization. A notable component of the application process is the business counseling/coaching connection each applicant has the opportunity to receive from the Small Business Development Center free of charge. Awards are given based on the merit of the final plans. In the past three years, 21 businesses have benefited, and a total of $75,000 awarded.
Nort Johnson, President/CEO of the Faribault Chamber noted “Entries will be connected with Small Business Development Center and SCORE resources to really examine and complete a business plan.”
Faribault Main Street Coordinator, Kelly Nygaard, said “These Micro Grant funds have the ability to be a catalyst for growth, innovation, and success in downtown Faribault. Faribault Main Street is delighted to have the opportunity to partner with the EDA to administer this program and foster entrepreneurism!”
The Faribault Area Chamber of Commerce and Tourism’s Main Street Committee is thrilled to offer this opportunity. Chamber President/CEO, Nort Johnson notes that, “We’re excited to see how many more business models we can help support the idea of being part of our fabulous downtown.”
“We believe both the program and the collaboration with the Faribault Main Street have proven to be successful, and we are excited to see how the 2021 grants spur additional activity and growth in our downtown.” Said Deanna Kuennen, City of Faribault Community and Economic Development Director.
Preliminary business ideas must be submitted by June 1, 2022 to be considered. Go to the Faribault Main Street Facebook page, faribaultmainstreet.org or phone the office at 507.334.4381 for more information.