EDA elects to save small business funding
NEW ULM — After two businesses bowed out of receiving small business incentive grant funding, New Ulm’s EDA chose to save the $15,000 for next year’s grant cycle. In January, they approved 14 businesses to receive $7,500 each through the small business incentive grant program. Each business would be granted the funding as soon as they took the necessary steps, including an itemized history of receipts and a business plan meeting. Of these businesses, two opted not to complete the necessary steps and bowed out instead. With $15,000 in unclaimed money, the EDA had to decide what to ...