State Employment and Economic Development (DEED) Commissioner Steve Grove says they expect to start accepting applications by week’s end for emergency small business loans authorized by Governor Tim Walz’s executive order.
Grove says, “Half of all Minnesotans work for a small business, so this is a critical support line that we’re eager to get moving to bridge the gap that so many businesses here will face in the coming weeks.”
Small business impacted by the COVID pandemic can apply for emergency loans between $2,500 and $35,000. The loans will be no-interest and 50-percent forgivable. Businesses with questions about the emergency loan program should email ELP@state.mn.us.