The Minnesota Main Street COVID relief grants range from $10,000 to $25,000, depending on the size of the business. The number of employees included parent company and all locations. Minnesota Department of Employment and Economic Development officials announced Friday that about 5,780 small businesses have been selected to receive relief grants. The Initiative Foundation partnered with Pine County to deliver CARES Act grants throughout September, October and November 2020. (a) For taxable years beginning after December 31, 2019, and before January 1, 2021, the amount of any grant received by Employer contributions to employee health insurance and retirement plans; For small businesses that hold existing SBA loans approved on or before September 27, 2020, the SBA will cover six (6) months of principal, interest, and fees. Be a private for-profit business that has a permanent physical location in Minnesota. Were grateful these businesses are able to continue meeting community needs and creating opportunities for entrepreneurs across our region.. Specifically, the package enacted enhanced coronavirus unemployment benefits, coronavirus relief for rent and mortgage payments, a tax deadline extension and various other programs. Jackie Rahm Little, 36, has already been charged in connection to one of the fires. The ongoing spread of COVID-19 (Coronavirus) has had lasting impacts on US small businesses. Minnesota Small Business Loan Guarantee Program That effort saw a total of $8.8 million distributed to 785 Central Minnesota businesses. June 2021 Relief Pharmacist - #741 Hibbing, Minnesota. April 2019 Individuals have access to paid coronavirus sick leave and family leave benefits. A total of41 businesses of 134 existing loans have taken deferment or interest-only options, which amounts to 30 percent of the Foundation's lending portfolio. November 2019 The fixed-rate is 3.75% for for-profit businesses and 2.75% for non-profits.2, The EIDL is not eligible for forgiveness. The Legislature had previously passed a $200 million package to fight the virus. The Initiative Foundation is one of nearly two dozen lenders for this program intended to provide partially forgivable loans to restaurants, bars, hair salons and other public accommodations impacted by Minnesota Executive Orders 20-04 and 20-08. If you have questions related to this update, please contact your North Risk Partners advisor. Eligibility Well help you find one. WASHINGTON - Minnesota's state and local governments, its ailing hospitality industry, struggling small businesses and the agricultural sector will get a financial boost from the $1.9 trillion . 2018 Initiative Foundation 405 First St. S.E. Among the most significant business relief programs was the the Small Business Administrations (SBA) Paycheck Protection Program (PPP).