Big Minnesota firms fund $3.5M relief for Twin Cities small businesses
The Minneapolis Foundation has launched a $3.5 million fund backed by 28 major Minnesota corporations — including Target and Best Buy — to support small businesses in the Twin Cities that are facing urgent operational disruptions. According to the Business Journal preview, the money will begin flowing in the coming weeks through community organizations that already work directly with affected entrepreneurs, rather than being handed out by the corporations themselves. While the article doesn’t spell it out, the timing and structure clearly track current reality on the ground: immigrant‑serving shops and restaurants along corridors like Lake Street, Nicollet and the West Side have been reporting 50–80% revenue drops amid ICE’s Metro Surge and the federal crackdown, on top of winter weather and the usual post‑holiday slump. This fund is corporate Minnesota’s attempt to patch that hole and buy some stability without publicly confronting the federal operation that helped cause it — a lifeline for some businesses, but nowhere near enough to fully offset the damage if the surge drags on.
📌 Key Facts
- The Minneapolis Foundation has created a $3.5 million fund specifically for Twin Cities small businesses facing urgent operational challenges.
- Twenty‑eight major Minnesota companies, including Target and Best Buy, are backing the fund financially.
- Grants will be distributed in the coming weeks via community organizations that have direct ties to local small businesses.
📊 Relevant Data
In January 2026, some Minnesota businesses experienced dampened sales and slower foot traffic due to fear of immigration enforcement, with nearly 20% of surveyed businesses reporting lower employment head counts.
Minneapolis businesses struggle during Trump's immigration enforcement surge — ABC News
In 2018, Minnesota’s minority-owned employer businesses had three more employees per firm and paid out an average of $4,000 more in annual payroll than minority-owned employer businesses in the U.S. as a whole.
Looking beneath the aggregate data — Minnesota Chamber of Commerce
The Twin Cities metro has some of the largest gaps between Whites (non-Latino) and African-Americans, Asians, and Native Americans in employment, income, and homeownership, with a typical African-American household earning $27,026 a year, less than half of the typical white household’s income in Minnesota.
Minority Entrepreneur Initiative — Carlson School of Management
📰 Source Timeline (1)
Follow how coverage of this story developed over time