March 26, 2020

03/26/2020: Financial Assistance for Small Businesses Affected by COVID-19


State Small Business Emergency Loan

Following Governor Walz’s Executive Order 20-15, the MN Department of Employment and Economic Development (DEED) has established an emergency loan program for small businesses affected by COVID-19.  Loans range from $2,500 – $35,000; are interest free; and partially forgivable (up to 50%).  If your business was directly affected by Executive Orders 20-04 and 20-08 (ie restaurants, bars, event venues, fitness centers, country clubs, etc) you can now apply for an emergency loan online at

Federal Small Business Administration Disaster Loans

The US Small Business Administration is now offering low-interest federal disaster loans for working capital to Minnesota small business affected by COIVD-19.  This program can provide up to $2 million to small businesses and private non-profits operating in Minnesota.  For more information about the program, or to apply for disaster loan assistance, visit