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+MN MAIN STREET COVID RELIEF GRANT
MN MAIN STREET COVID RELIEF GRANT
Apply between September 20 - 29th, 2021
Grants are awarded based on the number of full-time equivalent employees through a randomized lottery.
$10,000-$25,000 grants to MN-owned and operated businesses
200 FTE or less
Demonstrate financial hardship due to COVID-19
+SBA ECONOMIC INJURY DISASTER (EIDL) LOAN
in response to COVID-19, small business owners, including agricultural businesses, and nonprofit organizations in all U.S. states, Washington D.C., and territories can apply for the COVID-19 Economic Injury Disaster Loan (EIDL).
maximum loan amount is $500,000
interest rate for businesses is 3.75%, nonprofits is 2.75%
term is 30-years
+LOST WAGES ASSISTANCE PROGRAM
The federal government recently announced the creation of the Lost Wages Assistance (LWA) program. LWA is a short-term, emergency program. It will provide an additional $300 per week to most UI applicants who are unemployed due to COVID-19. The Lost Wages Assistance Program is very different from the previous, $600 additional payment program that ended in July. It has different eligibility requirements for applicants. It also involves a very different funding arrangement with the federal government. Because of these differences, Minnesota and most other states had to review the LWA program carefully before applying to the federal government to participate
If you received PUA, applicants do not have to do anything extra to receive LWA payments
All the payment requests made for the week of July 26th going forward and automatically pay those applicants that are eligible for LWA
FAQ page can be accessed here
+SHARED WORK PROGRAM (AN ALTERNATIVE TO LAY-OFFS)
Shared Work is offered by the MN Unemployment Insurance (UI) Program to help employers avoid a layoff.