The US SBA and MN DEED are now offering COVID-19 Small Business Emergency Loans

The SBA will make loans of up to $2 million available to eligible small businesses and private, non-profit organizations to help alleviate economic injury caused by the Coronavirus (COVID-19).

     -These loans can go toward working capital to meet needs including payroll, accounts payable, and                 fixed debt payments that can’t be paid due to the COVID-19 pandemic.
      -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.

You can apply online directly through the SBA website:


DEED has established a Small Business Emergency Loan program to assist Minnesota small businesses that are adversely affected by COVID-19. 


      -Offering interest-free loans from $2,500 to $35,000.

      -Repayment terms are up to five (5) years and the first payment can be deferred up to six (6) months.

      -Applications available online:

- SBA shares additional information as it becomes available via their newsletter. Sign up

- The SBA Minnesota District Office will also be posting information on Twitter
(@SBA_Minnesota) as it becomes available.



- For more on SBA programs for the coronavirus, please visit

- For information on all federal programs, visit


ADDITIONAL RESOURCES (links located by clicking underlined titles below)

- Minnesota Department of Employment and Economic Development COVID webpage
with Minnesota specific information.

- 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.

- SBA Local Assistance website to find technical assistance providers in your area.