Small Business Emergency Loans
Following Executive Order 20-15, DEED has established a loan program to assist small businesses directly and adversely affected and whose industry is named in Executive Orders 20-04 and 20-08 following the COVID-19 pandemic. Small businesses are a vital part of Minnesota’s economy and this program will provide a source of working capital to help businesses sustain operations during this challenging time.
Businesses should apply directly through a certified lender. A list of lenders and application materials are available in the tabs. Nonprofits are not eligible for this program.
Current loan requests have exceeded funding availability in most parts of the state. Limited funding may be available in West Central and Central Minnesota. If your business is located in one those areas, you should contact a lender to check availability of funds.
Please visit this site regularly to learn if the legislature has made additional loan funds available.