COVID-19 Resources for Your Business

Monday, March 23, 2020

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Federal and state government entities and nonprofits are working together to control the spread of the coronavirus and to support the businesses and individuals impacted by the virus and/or the protective measures being taken.  We've rounded up the resources to help your business navigate these tumultuous times.  To download, click here.

COVID-19 RESOURCES

Federal and state government entities and nonprofits are working together to control the spread of the coronavirus and to support the businesses and individuals impacted by the virus and/or the protective measures being taken. 

STATE COVID-19 RESOURCES

Information for Workers

Answers to common questions for workers. This includes new information regarding workers affected by the temporary closure of in-person dining at restaurants, bars and other locations under the executive order issued by the Governor on March 16

Information for Employers and Businesses

Answers to common questions for employers and businesses. This includes changes announced on March 16 regarding Unemployment Insurance.

Small Business Emergency Loan Program

The Minnesota Department of Employment and Economic Development (DEED) is creating an emergency loan program to help Minnesota small business owners who need immediate assistance to meet their families’ basic needs during COVID-19 closures. 


FEDERAL COVID-19 RESOURCES

Federal RESOURCES FOR BUSINESSES

  • The ECONOMIC INJURY DISASTER LOAN PROGRAM is an SBA program that works directly with state Governors to provide targeted, low-interest rate working capital loans of up to $2-million to small businesses and nonprofits.

PROCESS FOR ACCESSING SBA’S CORONAVIRUS (COVID-19) DISASTER RELIEF LENDING

  • The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.
  • Any such Economic Injury Disaster Loan assistance declaration issued by the SBA makes loans available to small businesses and private, non-profit organizations in designated areas of a state or territory to help alleviate economic injury caused by the Coronavirus (COVID-19).
  • SBA’s Office of Disaster Assistance will coordinate with the state’s or territory’s Governor to submit the request for Economic Injury Disaster Loan assistance.
  • Once a declaration is made for designated areas within a state, the information on the application process for Economic Injury Disaster Loan assistance will be made available to all affected communities.
  • These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.
  • SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
  • SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response, and the SBA is strongly committed to providing the most effective and customer-focused response possible.

For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail DISASTERCUSTOMERSERVICE@SBA.GOV

 

 


HEALTH AND SAFETY

U.S. Fire Administration published infection control GUIDANCE FOR FIRST RESPONDERS

 

Category: Economic Development, Business Development, Covid, Coronavirus, Emergency, Disaster Funding