(KNSI) – Two area organizations have been awarded grants for their work helping small businesses thrive.
The Minnesota Department of Employment and Economic Development has chosen the Greater St. Cloud Development Corporation and St. Cloud State University as part of 41 different higher education institutions, nonprofits, and community development organizations. The GSCDC will get $280,000. SCSU is receiving $75,000.
The awards total $12.5 million. Another $21.8 million comes from federal, local, and private sources.
The grants go towards efforts to supply entrepreneurs or mom-and-pop shops with the resources needed to grow their businesses. It could include training and technical assistance or professional development for their companies.
DEED Commissioner Matt Varilek says, “Helping small businesses not just survive but thrive strengthens our communities – because small businesses are the backbone of towns across Minnesota.”
About half of the money is earmarked for Greater Minnesota. Nearly three-quarters of the organizations helped focus on disabled, low-income, and minority individuals or veterans.
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