Resources for businesses and workers affected by COVID-19
View resources to support our workforce and small businesses
$10,000 advance now available with SBA Disaster Loans
On March 27, 2020, President Trump signed into law the CARES Act, which provides additional assistance for small business owners and non-profits, including the opportunity for an up to a $10,000 Economic Injury Disaster Loan Advance.
This advance may be available even if your EIDL application was declined or is still pending, and will be forgiven.
Visit www.SBA.gov/Disaster to apply via a new streamlined application; one needs to be submitted even if you previously applied. Applying for the advance will not impact the status or slow your existing application.
Additional assistance for emergency capital will be available in the coming days.
What the Stay at Home Order means for businesses
On March 25, Governor Walz issued Executive Order 20-20, directing Minnesotans to limit movements outside of their homes from March 27 at 11:59 p.m. to April 10 at 5:00 p.m. Exemptions are provided for critical industries. Review the following resources to help determine if your business is in a critical industry:
- Information for Businesses and Workers
- Critical Sector Worker Exemptions
- Guidance on Stay at Home Order
DEED and SBA assistance
The State of Minnesota Department of Employment and Economic Development (DEED) and the Small Business Administration (SBA) have announced assistance for businesses including emergency loans with deferred payments. In this rapidly evolving situation, the most up-to-date information can be found at DEED’S COVID-19 information and resources for businesses COVID-19 update page.
Up-to-date health information for businesses can be found below:
State of Minnesota Small Business Emergency Loan Program
Following Executive Order 20-15, DEED has established a loan program to assist small businesses affected by Executive Orders 20-04 and 20-08 following the COVID-19 pandemic. Small businesses are a vital part of Minnesota’s economy and this program will provide a source of working capital to help businesses sustain operations during this challenging time. The emergency loan program will help Minnesota small business owners who need immediate assistance to meet their families’ basic needs during COVID-19 closures. More information about the program is available.
- Range from $2,500 to $35,000 and will be based on the firm’s economic injury and the financial need.
- Be interest free.
- Be paid back monthly over five (5) years and the first payment will be deferred six (6) months with potentially partial forgiveness.
- Be provided to only Minnesota-based businesses.
Approved lenders can be found here.
Minnesota businesses can now apply for SBA - Small Business Loans
The U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of coronavirus (COVID-19).
- This program is for small businesses and most non-profit organizations that have suffered directly by this disaster.
- Loans can be for up to $2 million and may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.
- Loans under $25,000 can be made without collateral, loans over $25,000 should be collateralized. For more information visit the SBA’s Economic Injury Disaster Loan page.
View the video: SBA Economic Injury Disaster Loan Training (EIDL)
These trainings will cover program eligibility, use of proceeds, terms ,filing requirements, and additional small business resources. After registering you will receive the Skype webinar log in information.
Additional SBA loan information resources
- Download the three step process from the disaster loans information sheet
- SBA disaster loan information at https://disasterloan.sba.gov/ela/Information/Index
- Information for small businesses affected by coronavirus at www.sba.gov/coronavirus
- All coronavirus-related federal government resources at www.usa.gov/coronavirus
Sales tax grace period
Restaurants, bars and other hospitality businesses impacted by the temporary closure order have a 30-day grace period in paying sales and use tax. During this time the Minnesota department of Revenue will not assess penalties or interest. This means that affected businesses with a monthly Sales and Use Tax payment due March 20, 2020 will have until April 20 to make that payment. These customers should still file their return by March 20. Find out more at the Minnesota Department of Revenue website.
Business Consulting Available through Open to Business
Minnesota Unemployment Insurance Shared Work Program
The Minnesota Unemployment Insurance Program Shared Work program is available to employers to help avoid a layoff. Employees work reduced hours during a temporary slowdown and are paid unemployment benefits to offset part of their reduced wages.
Employer Health Insurance and Unemployment Insurance
Employer health insurance and Unemployment Insurance are not mutually exclusive. Employees can be covered by their employer health insurance and still be eligible for Unemployment Insurance.
The Unemployment Insurance program is ready to assist workers who can’t work, workers who have had their hours reduced, and workers who have lost their jobs as a result of the COVID-19 pandemic.
To get more information about Unemployment Insurance or to apply for benefits, visit www.uimn.org.
Resources for Workers
- Minnesota Department of Employment and Economic Development
The Minnesota Department of Employment and Economic Development (DEED) has put together information including responses to common questions for workers.
- Minnesota Department of Labor
The Minnesota Department of Labor has put together information about worker protections specifically related to COVID-19.
- Minnesota Unemployment Insurance Program
Workers affected by COVID-19 can apply for unemployment benefits through the Minnesota Unemployment Insurance Program. On March 16, 2020 an executive order was issued to ensure that workers affected by COVID-19 have full access to unemployment benefits.
- MN DEED
Up-to-date COVID-19 Information for Businesses and Workers.
Helping Minnesota Businesses during COVID-19.
- MN Department of Revenue
Minnesota Sales and Use Tax Information including delaying payments
- MN Department of Labor and Industry
Labor and Industry information about license exams and workers compensation.
- Minnesota Department of Health
Health hotlines and strategies for preventing the spread of COVID-19 for travelers, health and childcare workers, and businesses and employers
- City of Minneapolis businesses
Additional resources for businesses in the City of Minneapolis
- Hennepin County Career Force Services
Job search resources and services for workers
- Minnesota Chamber of Commerce
Compilation of statewide resources for businesses and business survey to help understand COVID19 impacts
- American Bankers Association
A listing of banks that have announced disaster relief
- Facebook Small Business Grants Program
Information about grants for small businesses
Steps for BIPOC-Owned Businesses During COVID-19
- Forge North
Resources and links for local startups
- Springboard for the Arts
Resources for Artists, Creative Workers & Organizations
Resources for small businesses