SMALL BUSINESS RESOURCES
LINK: MINNESOTA FACE COVERING REQUIREMENTS JULY 25 2020
For questions related to the COVID-19 pandemic, call 651-297-1304 or 1-800-657-3504
Mon.-Fri.: 9 a.m. to 4 p.m. Mental Health Crisis Line - Call: **CRISIS (**274747)
ECONOMIC INJURY DISASTER LOAN PROGRAM EXPIRES 9.30.20
Note: All available funds for the EIDL Advance program have been allocated.
The Paycheck Protection Program resumed accepting applications July 6, 2020, at 9:00 AM EDT in response to President signing the program's extension legislation. The new deadline to apply for a Paycheck Protection Program loan is August 8, 2020. We recommend working through your business banker for this loan.
This temporary program, established in response to the 2020 public health emergency, will help Minnesota lenders provide capital to small businesses in Minnesota affected by COVID-19. These loans can be used for a variety of purposes and can be subordinate to other financing. Allowable loan uses must be exclusively in Minnesota and include machinery or equipment purchases, maintenance, or repair; expenses related to moving into or within Minnesota; and working capital when the working capital is secured by fixed assets when possible.
The funds can only be provided to Minnesota businesses with fewer than the equivalent of 250 employees. The number of employees includes parent company and all locations. The program will provide an 80% guarantee up to a maximum of $200,000. A fee of .25 percent on the guarantee loan principal will be charged for each loan enrolled into the program.
All loans will be made by lenders enrolled in the program – no loans will come directly from DEED. We are now accepting applications from lenders who would like to participate in the program.
ST. PAUL BRIDGE FUND THE SAINT PAUL BRIDGE FUND IS NO LONGER ACCEPTING APPLICATIONS
Click on link for information about applying for unemployment benefits through Minnesota DEED.
KEEPING YOUR SURROUNDINGS AND YOURSELF SAFE
GUIDANCE FOR ALL MINNESOTANS: Regular updates from your local authorities.
ECONOMIC IMPACT OF THE DISEASE
need someone to talk to about surviving the ongoing crisis?
Contact a member of our team and use us as your free-safe-confidential-sounding board. We certainly do not have all the answers, but we are excellent listeners and are passionate about Minnesota Business Owners.
Give us a call on: 888-290-5232