OWATONNA, Minn., June 29, 2026 – Southern Minnesota Initiative Foundation (SMIF) is currently accepting applications for its Economic Development Grant program. Requests of up to $10,000 will be considered.
The Economic Development Grant supports projects that strengthen local business activity, promote steady economic growth across SMIF’s 20-county region and Native nation, encourage innovation, job creation, and broader access to opportunity. The program supports organizations that provide direct services to help people start or expand small businesses, and that create welcoming environments where more residents can participate in southern Minnesota’s business support network. While all communities in SMIF’s region will be considered, preference is given to organizations or projects serving communities with populations under 10,000.
“As entrepreneurs across our region seek support for starting or expanding small businesses, we want to ensure they have the systems and resources to move their ideas forward,” shared Mary Athey, SMIF vice president of entrepreneurship. “Creating a strong economy isn’t just about the first step, it’s having the scaffolding to help small businesses become long-lasting cornerstones of the community.”
In 2026, this grant is open to IRS-designated 501(c)(3) nonprofit organizations. Other IRS-designated 501(c) organizations and informal/grassroots organizations can apply with a 501(c)(3) organization as their fiscal host. In 2027, this grant will be open to units/agencies of government and public institutions.
Applications are due to SMIF by August 10, 2026 at 4 p.m. For the application and guidelines, visit smifoundation.org/economicgrants or contact Jennifer Heien, entrepreneurship administrative coordinator, at 507-214-7040 or jenniferh@smifoundation.org.
SMIF works to catalyze entrepreneurial activity within the region and has played a strong role in growing local business by supporting entrepreneurship since 1986. In addition to the Economic Development Grants, SMIF provides early-stage investments, traditional loans, micro loans, technical assistance, peer networks and business trainings to achieve the vision of creating economic prosperity and community vitality in southern Minnesota.
