SBA's resource partners are actively helping small business owners understand what’s available to them. To identify the one in your area, use SBA’s Local Assistance Directory or check out the Minnesota SBA Resource Guide.
Our traditional SBA-backed loans for bridging your financial needs, working capital or fixed asset acquisition remain available. All current and new SBA-backed traditional loans through September 27, 2020, have deferred payments for six months.
On Friday, April 17, 2020, Governor Walz signed a bill temporarily allowing qualifying, licensed restaurants to sell limited alcoholic beverages as part of a takeout food order since they are closed for dine-in service by executive order. A restaurant may offer malt liquor, hard seltzer, beer, cider and wine. Businesses must check ID to verify that the customer is of legal drinking age and that there are no restrictions on the purchase of alcohol on the customer's state-issued identification. For questions about beer and wine to-go in Minneapolis, email firstname.lastname@example.org or call 612-673-2080. Read more FAQs here.
The SBA’s Minnesota District Office is hosting three new trainings this week to help you address challenges you may be facing right now. These trainings are a part of the Money Smart for Small Business program collaboratively developed by the FDIC and SBA. To learn more and register today, visit the links below:
SBA Small Business Risk Management
Wed, Apr 22, 2020 1:00 PM
SBA Small Business Record Keeping
Thu, Apr 23, 2020 1:00 PM
SBA Small Business Financial Management
Fri, Apr 24, 2020 1:00 PM
Our local paper, the Longfellow Nokomis Messenger, now has a new “What’s Open” app on their website. If you're still open (in whatever capacity), click here to post your free listing and get your information out to the public.
SBA resource partner, SCORE is committed to helping businesses through the unprecedented challenges from the coronavirus outbreak. Check out these blog posts and reach out to a mentor for more:
Minneapolis business leaders and neighbors are invited to join Mayor Jacob Frey Friday, April 17th at 12:00 PM for an open call where he will share information about how the City of Minneapolis is supporting our local businesses through the COVID-19 pandemic.
Previous webinars covered financial resources available to business owners, unemployment and information for employees, sick and safe time/paid leave, small business guidance, and public safety. This week, we will hear about the new programs and updated support for the business community.
Please register for Open Call for our Business/Employer Community: Office of Mayor Frey - City of Minneapolis . After registering, you will receive a confirmation email containing information about joining the webinar.
The Pandemic Unemployment Assistance program that covers those who do not qualify for regular Unemployment Insurance benefits, such as independent contractors and self-employed people. The Minnesota Unemployment Insurance office is developing this program now, and instructions are available to begin your application.
Self-employed individuals and independent contractors became eligible on April 10 to apply for the Paycheck Protection Program, or PPP. The loans are available to cover up to eight weeks of average monthly payroll plus 25%. Highlights include:
As part of the Federal CARES Act, Small businesses can now apply for an advance of up to $10,000 on federal Economic Injury Disaster Loans through the U.S. Small Business Administration.
Visit www.SBA.gov/Disaster to apply now.
ContactFor questions about SBA EIDL loans and advances:
1-800-659-2955 or (TTY: 1-800-877-8339)
The Office of Mayor Jacob Frey is hosting weekly calls for our business community every Friday at 11 a.m. They will provide updates about current strategies to support businesses and answer your questions live. Click here to find details and register for this week's call.