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Economic Relief Resources for Your Business During COVID-19

Jenna Taubel

Jenna Taubel About The Author

Mar 23, 2020 5:45:00 AM

As the COVID-19 pandemic continues to evolve, we understand that many business are feeling the weight of consumers practicing social distancing and the recent executive orders from Governor Walz. Here is a list of useful resources for you and your business to help you move forward through this difficult time.

Business man looking at question marks and solution path concept drawn by hand

Small Business Administration (SBA):

The SBA is offering guidance, and a variety of and resources and assistance to small businesses affected by COVID-19. Explore those options here and here

The SBA has also began offering a Payment Protection Program to help you keep your staff on payroll. You can learn more and apply for the program here.

Minnesota Department of Employment and Economic Development:

The MN DEED has important informational resources for both employers and their workers that are updated as new COVID-19 developments are announced. They have also recently made Small Business Emergency Loans available.  

The MN DEED also recently published a new guide for MN small businesses who need assistance that will help walk you through your program options at the federal and state level.

Community & Economic Development Associates (CEDA):

CEDA offers several small business support programs, including low interest loans to assist with working capital needs.

Minnesota Unemployment Insurance (UIMN):

Due to COVID-19 there are increased benefit options help your employees maintain there income through UIMN. You can explore those options here and here.

Rochester Area Economic Development (RAEDI):

The City of Rochester has partnered with RAEDI to provide area small businesses with emergency loans if they have been directly impacted by the COVID-19. Applicant must have already applied for the State of Minnesota’s Department of Employment & Economic Development Shared Work Program mentioned above.

First Alliance Credit Union Offers Small Businesses Financial Options

At First Alliance Credit Union we are committed to protecting our community from the spread of COVID-19 and helping our small business members stay financial sound during this unprecedented time. If you are feeling the financial impact from COVID-19 please contact our business team today, we are here to help provide you guidance and resources for your business. Schedule a Call