The Minnesota Department of Employment and Economic Development (DEED) last month announced that they have distributed small business emergency loans to 1,020 small businesses throughout Minnesota, helping them to survive the initial impacts of the COVID-19 pandemic.
The Minnesota Small Business Emergency Loan Program is part of a slate of emergency financing options for small Minnesota businesses. Other state options included the Small Business Loan Guarantee program and the Small Business Relief Grant program. State programs complement larger federal government programs, including Small Business Administration assistance, and the Paycheck Protection Program.
You can see a list of businesses that received a Minnesota Small Business Emergency Loan, as well as a breakout of loans by region and lender, on DEED’s website.
Also today, Governor Walz announced the authorization of emergency assistance for five Minnesota counties that sustained extensive damage during spring flooding this year, especially to township and county roads. Hubbard, Kittson, Marshall, Norman, and Polk counties will receive state support after they experienced a combination of heavy rain and winter snowfall that caused the damage.
“One Minnesota means we come together to provide support when we see a community in need,” said Governor Walz. “We will work closely with these counties to provide disaster assistance and ensure they quickly recover from this flooding.”