Federal and state government entities and nonprofits are working together to control the spread of the coronavirus and to support the businesses and individuals impacted by the virus and/or the protective measures being taken.
Shared Work Program:
The Shared Work program offers an alternative to layoffs for employers facing a temporary downturn in business.
Center for Disease Control: https://www.cdc.gov/coronavirus/2019-ncov/community/guidance-business-response.html
MN Department of Health: https://www.health.state.mn.us/diseases/coronavirus/businesses.html
MN Department of Economic Development resources for employers – Information on staffing, hours, unemployment insurance and assistance for small businesses: https://mn.gov/deed/newscenter/covid/employers/
US Small Business Administration guidance for employers – Links to information on small business products and loans, guidance on access to capital and the local assistance directory.: https://www.sba.gov/disaster-assistance/coronavirus-covid-19
MEDA: Steps for BIPOC-Owned Businesses During COVID-19 http://meda.net/business-and-coronavirus-steps-for-bipoc-owned-businesses-during-covid-19/
Forge North: Resources and Links For Local Startups https://forgenorth.com/covid19/
Springboard for the Arts: Resources for Artists, Creative Workers & Organizations https://springboardforthearts.org/coronavirus/
NEW! MN Department of Employment & Economic Development: Small Business Emergency Loans. DEED will use their lender network to make loans between $2,500 and $35,000 for qualifying small businesses. The loans will be 50% forgivable, and offered at a 0% interest rate. If other financing becomes available to small businesses that received an emergency loan, such as federal funding, the emergency loan must be repaid. More information on terms, eligibility and application process here.
US Small Business Administration is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Small businesses in Minnesota are now eligible for the SBA Economic Injury Disaster Loan Program and can apply for a loan at SBA.gov/disaster.
- This program can provide low-interest loans of up to $2 million to small businesses and private non-profits.
- These loans may be used to pay fixed debts, payroll, accounts payable and other bills.
- 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.
- Need help filling out the application? Access these step-by-step instructions.
Upcoming Loan Training for COVID-19 Related Economic Disruptions.
Tuesday, March 24, 9 a.m.: Register or 1 p.m.: Register
Wednesday, March 25, 9 a.m.: Register or 1 p.m.: Register
Thursday, March 26, 9 a.m.: Register or 1 p.m.: Register
Friday, March 27, 9 a.m.: Register or 1 p.m.: Register
View a recent presentation by the Minnesota District Office: Coronavirus Training PowerPoint
MN Department of Revenue details on business tax changes – a 30-day Sales and Use Tax grace period for businesses required to suspend or reduce services: https://www.revenue.state.mn.us/our-response-covid-19
Resources for Businesses
- Federal Deposit Insurance Corporation (FDIC) is working with regulated financial institutions to help them meet the needs of their customers.
- Small Business Administration (SBA) is working with state Governors to provide low-interest loans to small businesses and nonprofits that have been severely impacted by the Coronavirus (COVID-19).
- Guidance for Businesses and Employers
- SBA Products and Resources
- Government Contracting
- Local Assistance
- The Economic Injury Disaster Loan Program is an SBA program that works directly with state Governors to provide targeted, low-interest rate working capital loans of up to $2-million to small businesses and nonprofits.
Process for Accessing SBA’s Coronavirus (COVID-19) Disaster Relief Lending
- The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.
- Any such Economic Injury Disaster Loan assistance declaration issued by the SBA makes loans available to small businesses and private, non-profit organizations in designated areas of a state or territory to help alleviate economic injury caused by the Coronavirus (COVID-19).
- SBA’s Office of Disaster Assistance will coordinate with the state’s or territory’s Governor to submit the request for Economic Injury Disaster Loan assistance.
- Once a declaration is made for designated areas within a state, the information on the application process for Economic Injury Disaster Loan assistance will be made available to all affected communities.
- These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.
- SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
- SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response, and the SBA is strongly committed to providing the most effective and customer-focused response possible.
For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail firstname.lastname@example.org
Federal COVID-19 Resources
Health and Safety
- Information on Coronavirus Disease 2019 (COVID-19) Prevention, Symptoms and FAQ
- Share Facts about COVID-19
- CDC Coronavirus Disease 2019 (COVID-19) Web page
- John Hopkins provides information on the virus, treatment and research.
- Visit the Mayo Clinic for information on symptoms and treatment.
- Administration for Community Living offers information for older adults, and people with disabilities.
- Centers for Disease Control and Prevention (CDC) is studying the virus worldwide and helping communities respond locally. Check the CDC’s Coronavirus Disease 2019 (COVID-19) page for news and guidance.
- Corporation for National and Community Service guidance for volunteers and programs.
- Defense Commissary Agency is ensuring the quality and safety of food available at commissaries world-wide.
- The Department of Energy is researching COVID-19 at the National Labs.
- The Department of Health and Human Services Office of the Assistant Secretary for Preparedness and Response (ASPR) is developing new medical treatments.
- The Department of Homeland Security is facilitating a whole-of-government response in confronting COVID-19
- The Department of Labor has information for employers and workers on preparing workplaces and responding to COVID-19 in the workplace.
- The Environmental Protection Agency has information about disinfectants that can kill COVID-19 and facts about water safety.
- The Food and Drug Administration is working with the medical industry to develop vaccines, drugs, and diagnostic tests. For healthcare professionals, they offer FAQs about diagnostic testing.
- The Military Health System offers health advice, and updates on travel restrictions for members of the military.
- The Navy and Marine Corps Public Health Center published guidance for healthcare providers.
- U.S. Department of Agriculture answers questions about food safety and pet safety.
- U.S. Fire Administration published infection control guidance for first responders.
Travel and Transportation
- Federal Aviation Administration (FAA) offers guidance for air travelers.
- Federal Transit Administration (FTA) offers guidance to transit agencies.
Money and Taxes
- Internal Revenue Service (IRS) advice for deducting COVID-19 costs from your taxes.
- Trump Administration to delay tax payments for most individuals.
- The Department of Housing and Urban Development (HUD) issued guidance for public housing authorities, landlords, shelters, non-profits, grantees, and stakeholders.
- Department of State is working with international governments to combat COVID-19 and has also issued travel advisories.
- U.S. Agency for International Development (USAID) is providing funding to international organizations to combat COVID-19.
- OSHA COVID-19 Resources
- Some states are extending unemployment benefits to those quarantined or laid off due to COVID-19.