For businesses of 500 or fewer employees: Maximum loan amount is $5,000,000 or six months of operating expenses plus interest
For businesses of 501 employees or more: Maximum loan amount is $10,000,000 or six months of operating expenses plus interest
Maximum buydown amount from the Bank of ND is $500,000 per biennium, per borrower. A Borrower is defined as an individual, corporation, limited liability company, partnership, association or any combination of these if there is common ownership.
Proceeds may be used to:
Support working capital needs of a business in the state of North Dakota
Term out COVID-19-related bridge loans or pay credit card debt originated on or after March 13, 2020. This amount may not exceed 20% of the maximum loan amount.
If a business is not selected for immediate COVID-19 grant support, they will still be in consideration for the larger $50,000 Business for All grant distributed in November 2020
All grant applicants will receive access to business growth opportunities and support from the Hello Alice community
This program will make available $10,000 grants to Minnesotan owned and operated businesses that can demonstrate financial hardship as a result of the COVID-19 outbreak. A total of $60.3 million is available for grant awards which will be selected through a computer-generated, randomized selection process.
Awards will be disbursed and administered by qualified local and regionally based nonprofit organizations. Grant funds received by individual businesses shall be used for working capital to support payroll expenses, rent, mortgage payments, utility bills, and other similar expenses that occur or have occurred since March 1, 2020, in the regular course of business. These are grants and no repayment will be required.
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
This fund will award emergency grants to nonprofit organizations in Barnes County that provide direct service to those most in need during the pandemic, behavioral health services, and emergency and health care response needs.
IRS tax exempt nonprofit organizations, units of Government and/or a church or a tax-exempt school are eligible to apply.
If your agency has been impacted either directly or indirectly and are struggling, please click the "Nonprofits" on the linked page for access to the grant request form.
This program provides business advising, training and education resources to small businesses that have experienced any impact or change in their normal operations due to COVID-19.
Minnesota Department of Employment and Economic Development
U.S. Citizens and Permanent Residents
Minnesota
I run a non-profit
I don't have employees
My business is less than 1 year old
The program will provide an 80% guarantee up to a maximum of $200,000.
Allowable loan uses must be exclusively in Minnesota and include machinery or equipment purchases, maintenance, or repair; expenses related to moving into or within Minnesota; and working capital when the working capital is secured by fixed assets when possible.
Flexible funding: You keep what you raise, and you start getting working capital, i.e. cash, in your bank account right away. No waiting until your campaign is over.
Flexible dates: You can adjust your start and end dates as many times as you need to.
Flexible Rewards: You can put rewards on sale, delete the ones that aren't selling, or change out images and titles. Everything to do with rewards is changeable, even after your campaign starts.
Flexible goal: Most likely, you will not need to change your goal, but if you need to, you can on IFundWomen.
Provides $5,000 grants to small businesses employing between 3 and 20 people, located in an economically vulnerable community that has been harmed financially by the COVID-19 pandemic.
The Doonie Fund makes micro investments in Black women entrepreneurs. Founded by digital undivided CEO, Kathryn Finney, the fund is named after her grandmother, Kathryn “Doonie” Hale, who inspired her entrepreneurial journey and encouraged her to stay in the arena.
Since its inception on April 5th, 2020, the fund has invested in over 500 black women entrepreneurs.
Minnesota Department of Employment and Economic Development
U.S. Citizens and Permanent Residents
Minnesota
I run a non-profit
I don't have employees
My business is less than 1 year old
The size of an award depends on variety of factors including (but not limited to) Minnesota’s competitiveness, local economic conditions, job creation and wage levels. All expenditures and hiring related to the MIF assistance may not occur until funding has been formally approved.