- New Video – SBA Disaster Loan Training
- Emergency Fund for NGO’s from Otto Bremer Trust
- Coronavirus-related Posters from Department of Labor
- New Info from the IRS
- Info from SBA Partners and Other Agencies
- Stay Updated
Details provided by the MN SBA District Office
New Video – SBA Disaster Loan Training
Minnesota small businesses can now apply for SBA Economic Injury Disaster Loans (EIDL). Our office has been hosting twice daily training’s to help answer questions and provide tips for applying, but they have filled up fast!
To help meet demand, and give you access to the materials 24/7, we created this video.
It provides the same training we are providing in our live events but in a condensed form and with many of the questions we’ve been getting from small businesses answered in the content.
Special thanks to the St. Paul Area Chamber of Commerce for helping us meet demand by hosting this video on their website.
Emergency Fund for NGO’s from Otto Bremer Trust
The Otto Bremer Trust (OBT) announced the creation of a $50 million emergency fund to be set up through its Community Benefit Financial Company subsidiary to provide financial support to Minnesota, Wisconsin, North Dakota, and Montana nonprofits and other community organizations. The new fund will provide emergency funding, loans, lines of credit, and other financial resources to organizations impacted by and responding to the COVID-19 outbreak. Learn more by reading their full news release.
Coronavirus-related Posters from Department of Labor
The U.S. Department of Labor has shared posters related to the Families First Coronavirus Response Act.
- Employee Rights: Paid Sick Leave and Expanded Family and Medical Leave under The Families First Coronavirus Response Act (FFCRA)
- Federal Employee Rights: Paid Sick Leave and Expanded Family and Medical Leave under The Families First Coronavirus Response Act (FFCRA)
- Families First Coronavirus Response Act Notice – Frequently Asked Questions
New Info from the IRS
There are two new pages on IRS.gov, plus the original page – Coronavirus Tax Relief.
- NEW! IRS Operations During COVID-19: Mission-critical functions continue. This page provides an overview of changes related to IRS operations and guidance for taxpayers during this period.
- NEW! FAQs – excellent info! Filing and Payment Deadlines Questions and Answers
Info from SBA Partners and Other Agencies
We will continue to share additional resources as they become available. This is by no means an all-inclusive list, but we hope it gives you a good starting point to get the help you need to deal with the crisis at hand.
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.
- WBDC/WBENC Covid 19 resources for Women Owned Businesses
- DEED is creating a Small Business Emergency Loan Program by making available $30 million from special revenue funds.
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 flexibilities that states have in administering their unemployment insurance programs to help Americans affected by coronavirus
For more on SBA programs for the coronavirus, please visit www.sba.gov/coronavirus.
If this newsletter was forwarded to you, sign up now to make sure you get additional information as it becomes available via sba.gov/updates.
We will also be posting information on Twitter (@SBA_Minnesota) as it becomes available. Join us there.