MINNEAPOLIS (FOX 9) - The Lake Street Council is awarding $2.8 million in grants through its recovery fund to businesses that were damaged or destroyed during the Minneapolis riots following the death of George Floyd.
The grants will go to 175 Lake Street businesses and nonprofits, 86 percent of which are owned by those who are Black, Indigenous, people of color or immigrants. More than 80 percent of the businesses receiving funds have fewer than 10 employees.
Businesses or nonprofits were able to apply for up to $25,000 for building repairs or to replace inventory and equipment. To be eligible to apply for the grant, organizations had to have annual revenues of less than $3 million and fewer than 100 employees.
Due to continued need, an additional $1 million will be allocated by the Lake Street Council to eligible businesses and nonprofits. For more information about the grant process, click here.