Paycheck Protection Program Forgiveness
If you would like to inquire about the PPP Forgiveness Application, we encourage you to directly contact the loan officer that assisted you with your initial PPP Loan.
SBA Economic Injury Disaster Loan (EIDL)
This week, SBA announced that the deadline to apply for a COVID-19 pandemic Economic Injury Disaster Loan has been extended to December 31, 2021.
To date, SBA has approved $197 billion in low-interest loans, which provide U.S. small businesses, non-profits, and agricultural businesses working capital funds. Economic Injury Disaster Loan applications will continue to be accepted through December 2021, pending the availability of funds.
Loans are offered at affordable terms, including a 3.75% interest rate for small businesses and 2.75% for non-profit organizations, a 30-year maturity, and an automatic deferment of one year before monthly payments begin. All eligible small businesses and nonprofits are encouraged to apply.
MN Department of Employment and Economic Development (DEED) Financing Programs
MN DEED programs assist small businesses in retaining existing jobs and creating new jobs. Not all businesses are eligible and specific requirements may apply.
Restaurant Revitalization Fund
The Restaurant Revitalization Fund program provides emergency assistance for eligible restaurants, bars, and other qualifying businesses impacted by COVID-19.
The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. The program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance.