Written by Vicki Oakes, MNbump Blogger
Ortonville EDA & Big Stone Area Growth
Note: Whether local, state or federal assistance programs, you can call Big Stone Area Growth & Ortonville EDA for help/questions on forms, where to start, etc. please call 320-839-6155
You’ll see recently reported info links (with dates) first. Scroll further down and you’ll find the staple links to all the agencies’ main COVID-19 assistance pages.
5/20 Coronavirus Food Assistance Program – Signup runs from May 26 – August 28 (watch video below) – and following FarmersGov Facebook page (LINK)
5/18 Updated: SBA and Treasury Release Paycheck Protection Program Loan Forgiveness Application. (LINK to info & application)
the Small Business Administration (SBA), in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application.
The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). SBA will also soon issue regulations and guidance to further assist borrowers as they complete their applications, and to provide lenders with guidance on their responsibilities.
Please complete this survey!
LINK: Please complete the COVID-19 Impact Survey
We are seeking to understand how COVID-19 is impacting businesses throughout Big Stone County. The information will be used to better support businesses and to inform the development of short and long term recovery resources. Note: Individual responses will be held in confidence and not disclosed other than in a summary report of all responses
The BEST resources for daily local announcements, stories…
KDIO 1350 AM – all the latest local news on-air & online!
and a subscription to our local newspapers Ortonville Independent & the Northern Star!
Ortonville Area Health Service: https://www.facebook.com/OAHS1/
Big Stone County COVID Info & Links
See resource links below –
LOCAL ASSISTANCE: $5,000 Emergency Loan Funds
24 month, zero percent interest, first payment due in 6 months. Available through Big Stone Area Growth or the Ortonville EDA. Link for Info & Forms
Looking at reopening or bringing remote employees back? Here are some safety plan guidelines and sample templates to personalize for your use –
LINK: WORK SAFETY
Peacetime Emergency Child Care Grants
The Department of Human Services, Governor’s Children’s Cabinet, and Child Care Aware of Minnesota are working together to distribute funds appropriated by the Minnesota Legislature. The first round of Peacetime Emergency Child Care Grants totaling $9.8 million was awarded on April 20. Applications for the second round are currently being accepted from Tuesday, May 5 through Tuesday, May 12 at 5:00 p.m. Find details at Child Care Aware. Whether or not a child care program received a grant in Round One, they still need to complete a new application for Round Two.
SBA Economic Injury Disaster Loan Program
Thanks to a concerted effort by the state of Minnesota and the SBA to contain the economic impact of Coronavirus, the state’s small businesses are now eligible for the SBA Economic Injury Disaster Loan Program and can apply for a loan online SBA.gov/disaster.
- This program can provide low-interest loans of up to $2 million to small businesses and private non-profits.
- These loans may be used to pay fixed debts, payroll, accounts payable and other bills.
- The current interest rate is 3.75% for small businesses. The non-profit rate is 2.75%.
- These loans have long-term repayment options, up to a maximum of 30 years.
- Need help filling out the application? Access these step-by-step instructions
Minnesota Small Business Emergency Loan Program
Southwest Initiative Foundation is a Minnesota Small Business Emergency Loan Program certified lender.
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.
Find the application materials on DEED’s website. Nonprofits are not eligible for this program.
Loan Training for COVID-19 Related Economic Disruptions
Join a webinar to learn more about SBA’s Economic Injury Disaster Loan program, including program eligibility, use of proceeds, terms, filing requirements, additional small business resources. The SBA’s Minnesota District Office will be hosting these twice a day until demand is met. After registering you will receive the Skype webinar log in information.
Visit www.sba.gov/mn for webinar dates and information on other resources available to help small businesses during this challenging time.
Info from SBA, Partners and Sister Agencies
Southwest Initiative Foundation continues to share additional resources as they become available. This is not an all-inclusive list, and we will add resources as they become available.
Southwest Initiative Foundation
- Southwest Initiative Foundation is offering deferments for all current business loan clients. If you have questions about your SWIF loan, please connect with our team member you typically work with. You can also reach out to our Entrepreneurship Finance Specialist Selina Berning at (320) 583-0162
Local Partner Info
- SBA Resource Partners are ready to help with no-cost, one-on-one business counseling regarding COVID-19.
- Entrepreneur Fund has COVID-19 Updates & Resources and offering 30-minute consult with a Lender or Advisor by email or phone.
- WomenVenture is open, ready to help and has created a COVID 19 Update Hub with details.
- Minnesota DEED has created a Covid 19 webpage with Minnesota specific information to help small businesses.
- Minnesota Unemployment Insurance has COVID-19 information for self-employed people and independent contractors.
- WBDC/WBENC Covid 19 resources for Women Owned Businesses
Federal Program Info
- For information on all federal programs, visit www.usa.gov/coronavirus or https://www.usa.gov/espanol/coronavirus (en Español).
- The IRS has established a web page to help taxpayers, businesses and others affected by the coronavirus.
- The U.S. Department of Labor has resources to help workers and employers prepare for the COVID-19 virus, including use of Family Medical Leave
- New guidance outlines flexibility states have in administering their unemployment insurance programs to help Americans affected by coronavirus.
Below… NEW $5,000 Grant opportunity with the U.S. Chamber of Commerce