COVID-19 Business Resources
Below is a list of federal, state, and local resources available to businesses dealing with the impacts of COVID-19. Stay safe and healthy and please do not hesitate to reach out to the City with any questions you may have.
The Small Business Development Center (SBDC) at Minnesota State University, Mankato knows that small business owners are rightfully concerned about survival during these uncertain times. South Central Minnesota businesses have survived natural disasters before, and during those trying times, many had to do things differently. It is important to take the necessary steps now so that you come out of this disruption stronger than ever. Click here for some key imperatives that can carry you through these uncertain times:
DEED is working with the U.S. Department of Labor, the Walz-Flanagan Administration, and the Minnesota Legislature to take steps to ensure the effects of the COVID-19 pandemic do not create unnecessary burdens on employers and workers. On this website you will find answers to common questions for employers and workers and more information as it becomes available.
Small Business Emergency Loans
Following Executive Order 20-15, DEED has established a loan program to assist small businesses directly and adversely affected and whose industry is named in 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.
Businesses should apply directly through a certified lender such as the Southern Minnesota Initiative Foundation. For the time being, their lenders are accepting applications and recording them in the order in which they are received. Loan consideration will start when DEED provides application approval criteria.
For more information, contact SMIF lenders with questions or to submit the initial application.
- Diane Lewis, Lending Officer firstname.lastname@example.org, (507) 214-7014
- Marcia Haley, SBA Lending Director, email@example.com, (507) 214-7021
Economic Injury Disaster Loan (EIDL) Program for COVID-19
MN small businesses are NOW eligible for U.S. Small Business Administration (SBA) disaster loans. Online applications for these loans are open to Minnesota businesses and available here. Brief information on the EIDL Program:
This program can provide low-interest loans of up to $2 million to small businesses and private non-profits. These loans can go toward working capital to meet needs including payroll, accounts payable, and fixed debt payments that can’t be paid due to the COVID-19 pandemic. The current interest rate is 3.75% for small businesses. The non-profit rate is 2.75%. These loans have long-term repayment options, up to a maximum of 30 years.
- Click here to view step by step instructions on how to apply for an EIDL loan
- EIDL Fact Sheet English (PDF)
- EIDL Fact Sheet Spanish (PDF)
For more information visit the SBA’s Economic Injury Disaster Loan page.
COVID-19 (Coronavirus) and Unemployment
Employers experiencing a slowdown in their businesses or services as a result of the coronavirus impact on the economy may apply for the Unemployment Insurance Shared Work Program. This program allows employers to seek an alternative to layoffs – retaining their trained employees by reducing their hours and wages that can be partially offset with UI benefits. Visit Shared Work Program to learn more about its benefits for employers and employees, and how to apply. Additionally, employees whose employment has been affected by COVID-19 can apply for unemployment benefits. The Minnesota Unemployment Insurance Program is taking steps to make the application process simpler for those affected.
As Minnesota responds to COVID-19, the Minnesota Department of Revenue remains open and ready to help with tax-related services. Refer to this page for updates and links to other information or resources.
To ensure the health and safety of our customers and employees, we are modifying some of the services we offer:
- We still offer in-person meetings and walk-in services but may modify them to allow more distance between people. we ask that you stay home if you or anyone in your household have cold or flu-like symptoms.
- You can securely drop off tax returns and payments outside our St. Paul office without face-to-face interaction. Put all materials in a sealed envelope.
- For information on delaying your sales and use tax payments see the Minnesota Department of Revenue Sales and Use Tax page.
The Centers for Disease Control and Prevention (CDC) offers the most up-to-date information on COVID-19. This interim guidance is based on what is currently known about the coronavirus disease (COVID19). For updates from the CDC,click here.
- Interim Guidance for Businesses and Employers to Plan and Respond to Coronavirus Disease 2019 (COVID-19)
The Minnesota Chamber has compiled resources from trusted sources aimed answering questions and continuing business throughout this pandemic, including a webinar of industry experts offering best practices and answering questions on health, safety and business considerations, and the economy as a whole. The Minnesota Chamber has compiled a webinar and toolkit for employers and employees.