Covid-19 Relief for Business
During the COVID-19 crisis, we want to help our business members get as much relief as possible. Below you’ll find a list of federal and state resources, and what you should apply for first.
Please note that all of this is still evolving, and we’ll do our best to keep updating this page as new information becomes available.*
Start at the Federal Level
To maximize the amount of help your business can get, we recommend that you first apply for these assistance programs created by the U.S. Small Business Administration.
SBA Paycheck Protection Program (PPP)
New applications (3/19/21): We are still accepting PPP loan applications for Round 3 through the current deadline of 5/31/2021 or until funds have been exhausted. If you're interested in applying, please use our contact request form to get the process started.
PPP Loan Forgiveness
If you already have a PPP loan through us, please visit our PPP Loan Forgiveness page for the latest updates on the application process for forgiveness and any changes to PPP loan components.
SBA COVID-19 Economic Injury Disaster Loan (EIDL)
As a second step, eligible small business owners can borrow up to $500,000. And also get an advance of up to $10,000 (the advance doesn’t have to be repaid). The U.S. Small Business Administration handles applications for this assistance.
State & Local Relief Options
After applying for federal business relief from the U.S. Small Business Association, you should also explore options at the state and local levels.
- Minnesota Department of Revenue – COVID-19 Business Relief Payments
- Minnesota Chamber of Commerce – COVID-19 Funding - Loans and Grants
- Minnesota Chamber of Commerce – Local COVID-19 Resources
More COVID-19 Resources
- State of Minnesota – COVID-19 Resources for Small Businesses
- Small Business Administration – Coronavirus (COVID-19): Small Business Guidance & Loan Resources
- U.S. Chamber of Commerce – Combating Coronavirus
- U.S. Department of Labor – Coronavirus Resources
Disclosures
* This page is meant to serve as a helpful guide to our business members. But please note that our statements are suggestions, and you should consider your unique situation and business needs before applying for anything, This summary is not a substitute for legal, tax, or employment advice or guidance. Also, due to the rapidly evolving nature of the COVID-19 crisis and its economic impact, the federal, state and local resources listed on this page may not always be entirely accurate. We’ll keep it as updated as possible, but please go directly to the federal, state and local sources to confirm the latest information.