The Minnesota Legislature passed a $216 million business relief package at this week’s special session. This funding package is broken down into three components - $88 million in direct relief payments from the Department of Revenue to businesses closed as a result of the current “Pause”, $114 million to Minnesota counties to support businesses, and $14 million in direct relief payments from Department of Employment and Economic Development for movie theaters and convention centers. Included with the funding support were waivers to State fees and extension of unemployment benefits. More information will be coming out soon. Below are more details on what is known now.
Direct Payments to Businesses
The Department of Revenue shared the following information on the pool of $88 million for direct business relief. Payments range from $10,000 to $45,000, depending on the number of employees.
Eligible Businesses This program provides direct payments to businesses required to temporarily close or reduce services in November under Executive Order 20-99. Businesses in the following categories, as reported by the Minnesota Unemployment Insurance program, may be eligible:
EMPLOYEES (FULL- AND PART-TIME)
Business Supports to Minnesota Counties
Minnesota Counties will receive $114 million to be then distributed to businesses within the county. The amount each County receives will be through a formula. More information will come out when Hennepin County provides details on its allocation. Businesses can receive relief dollars both from the direct funds through the Department of Revenue listed above and through the county relief program.
Direct Aid to Movie Theaters and Convention Centers
The Department of Employment and Economic Development will award $14 million in grants to assist movie theaters and convention centers.
The Department of Agriculture will create a program to waive the late fees if a licensed food retailer, manufacturer, wholesaler, or broker renews their license after the applicable deadline in 2021.
Additional Unemployment Benefits
Provides up to 13 weeks of additional special unemployment benefits to individuals who exhausts their regular unemployment benefits, state, federal extended benefits, and not receiving benefits under CARES Act, other federal employment extension benefits, or any other extension benefits at the state or federal levels.
From the ongoing COVID-19 pandemic to the aftermath of the officer involved death of Mr. George Floyd, our Minneapolis community has faced extraordinarily painful times.Rebuild Resilient is a program offering energy efficiency and solar related funding for business that can cover up to 70% project combined with utility rebates and incentives. This program leverages increased Xcel Energy and CenterPoint rebates as part of our path to recovery and transformation. Together, we can emerge as a stronger, equitable, inclusive, and resilient Minneapolis. Visit the Green Cost Share / Rebuild resilient web page for more information.
Solar projects: Qualifying buildings can receive up to $50,000 from the City of Minneapolis based on a solar array’s first year of estimated kilowatt hour production. The amount awarded to a project is based on a building’s incentive category and the estimated annual kilowatt hour production of the project. For complete details see the 2021 Solar Project Application. If you have questions about solar projects, email GreenCostShare@minneapolismn.gov
Energy efficiency projects: Qualifying buildings can receive up to $40,000 from the City of Minneapolis to help pay for energy efficiency updates. The amount awarded to a project is based on a building’s incentive category and the total cost of the project. For complete details see the 2021 Energy Efficiency Project Application. If you have questions about energy efficiency projects, email email@example.com
Incentive categories: The incentive categories for buildings are: base rate, environmental justice rate, energy benchmarked building (energy efficiency projects only), and Minneapolis Forward rate.
To determine which category applies to your building, see the project applications.
Application deadlines2021 application deadlines for solar and energy efficiency projects are Jan. 1, Mar. 1, May 3 and July 2. Deadlines are open until funding is exhausted.
Have you registered for our Elevate Business HC program? We’re offering free Technical Assistance services for your business, but the deadline is fast approaching. Businesses have told us what services they need to help navigate COVID-19’s impact on their businesses. And we’ve delivered.
Funding for Elevate Business HC is provided by Hennepin County through the Federal CARES Act.
Elevate Business HC-Technical Services
Assessing financial viability in light of the pandemic
COVID-19 notification procedures, safety protocols and health guidance Cultural competency training
Employee mental health and wellbeing
Fiscal analysis/ long term planning
HR policy review / Telework policy development / assessing staffing needs Implementing health and safety protocols (industry specific)
Insurance policy review
Lease review and negotiation of terms
Social media training
Starting and growing a business
Technology as a pillar of business going forward
Virtual employee engagement/retention Virtual employee onboarding
Web-based ordering/online shop development Website creation & management
Working with lenders and creditors to negotiate payments
Learn more at www.elevatebusinesshc.com
The Minneapolis City Council has approved our taproom license, the Mayor has signed, and we're just waiting for the license to be entered by the State of Minnesota to their database. We're going ahead and planning to open the taproom for to-go sales (curbside and pickup, delivery coming later) on Friday, December 18. We can't wait to have you come the taproom!
EIDL is available for eligible small business operating prior to January 31, 2020. The loan serves as working capital for your business for up to 6 months. Loans up to $150,000 with a fixed interest rate of 3.75% for small businesses and 2.75% for non-profits. The deadline for EIDL application is December 21, 2020. Apply online
Applicants may be declined for COVID-19 EIDL at any point during processing prior to a final decision and funding. If you are declined, you will receive an email or a letter providing the reason for the decline as well as instructions to request reconsideration. If you are requesting reconsideration, find more information by contacting the SBA Minnesota District Office Minneapolis.firstname.lastname@example.org or by attending an upcoming information session.
The SBA Minnesota District Office will be presenting information regarding the EIDL Reconsideration process that will explain the programs and conclude with a Q&A opportunity for attendees. The next presentation is on Monday, December 21 at 1:00 p.m. Registration is free but necessary to access the presentation. Register
Borrowers may be eligible for PPP loan forgiveness if the funds were used for eligible payroll costs, payments on business mortgage interest payments, rent, or utilities during either the 8- or 24-week period after disbursement. A borrower can apply for forgiveness once it has used all loan proceeds for which the borrower is requesting forgiveness. Borrowers can apply for forgiveness any time up to the maturity date of the loan. If borrowers do not apply for forgiveness within 10 months after the last day of the covered period, then PPP loan payments are no longer deferred and borrowers will begin making loan payments to their PPP lender.
SBA PPP Loan Forgiveness Information
Former Hennepin County judge pushes for historic designation for fire station that opened with an all-Black fire crew in 1907
An article was published on efforts to seek historic designation of a former fire station, located at 4501 Hiawatha, that housed the city’s first all-black fire crew. The building is currently rented by local business Adventures in Cardboard.
SBA Microlenders help small businesses and entrepreneurs by providing access to capital and business counseling. SBA microloans of up to $50,000 can be used for working capital, supplies, equipment and more. As part of the loan process you also have access to free business consulting to help you develop a stronger business plan, financial projections, and more.
Contact a participating SBA Minnesota microlender for more Info:African Development Center, (612) 333-4772
Serving Anoka, Beltrami, Blue Earth, Carver, Chisago, Dakota, Faribault, Hennepin, Isanti, Kandiyohi, Lyon, Olmsted, Ramsey, Scott, Sherburne, Stearns, and Washington counties
Entrepreneur Fund, (218) 623-5747
Serving Aitkin, Benton, Carlton, Cass, Cook, Crow Wing, Douglas, Itasca, Kanabec, Koochiching, Lake, Mille Lacs, Morrison, Pine, St. Louis, Stearns, and Todd counties
First Children’s Finance, (866) 562-6801
Serving child care businesses serving low and moderate income families
Hmong American Partnership, (651) 495-1557
Serving Anoka, Dakota, Hennepin, Ramsey, Scott, and Washington counties
Neighborhood Development Center, (651) 291-2480
Serving Hennepin and Ramsey counties
Northwest Minnesota Foundation, (218) 759-2057
Serving Beltrami, Clearwater, Hubbard, Kittson, Lake of the Woods, Mahnomen, Marshall, Norman, Pennington, Polk, Red Lake, and Roseau counties
Southern Minnesota Initiative Foundation, (507) 455-3215
Serving Blue Earth, Brown, Dodge, Faribault, Fillmore, Freeborn, Goodhue, Houston, Le Sueur, Martin, Mower, Nicollet, Olmsted, Pine, Rice, Sibley, Steele, Wabasha, Waseca, Watonwan, and Winona counties
Southwest Initiative Foundation, (320) 587-4848
Serving Benton, Big Stone, Carver, Chippewa, Cottonwood, Jackson, Kandiyohi, Lac qui Parle, Lincoln, Lyon, McLeod, Meeker, Murray, Nobles, Pipestone, Redwood, Renville, Rock, Sherburne, Stearns, Swift, Wright, and Yellow Medicine counties
WomenVenture, (612) 224-9540
Serving Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Ramsey, Scott, Steele, Washington, and Wright counties
In partnership with Council Member Cano, the University of Minnesota’s Weisman Art Museum, and the Minnesota Design Center (MDC), there is a series of workshops on alternative economic development models.
Workshop 5: December 17th, 2 – 4 pm
The future of commercial nodes in an era of online shopping. https://umn.zoom.us/j/92067233761#success
Workshop 6: January 7th, 2 – 4 pm
The future transportation and goods distribution in an era of autonomous vehicles and the delivery economy.
The U.S. Treasury Department and the IRS issued guidance on Nov.18 further clarifying that: