Small businesses are critical to Carver County’s economy, and the upcoming days and weeks hold uncertainty for all of us. However, as a small business owner, there are a lot of resources out there to help you navigate some of this uncertainty. Below are some of these resources you can access now, and many contain links to other resources. If you have any questions, do not hesitate to reach out to your local chamber, city, or the Carver County CDA.
Resources for Small Businesses
Executive Order 20-20 provides an exemption for workers who work in a Critical Sector and cannot perform their work duties at home. DEED’s website provides a list of resources to determine if your business is critical and how to go about requesting an exemption.
A special section has been established to help businesses and taxpayers who may be affected by COVID-19.
The Minnesota Department of Revenue has granted a 30 day grace period for payment of the monthly Sales and Use Tax Payment due March 20, 2020.
One-on-one assistance where business owners will be connected with experts to help develop strategies for their businesses such as operations and personnel management and help to navigate the different funding resources at the federal, state and local levels.
Business Readiness for COVID-19
Minnesota Chamber of Commerce has created a special page on their website with up to date information for businesses. They are also asking for businesses to participate in a short survey to help learn what Minnesota businesses are doing.
View the most up to date information from the Centers for Disease Control.
The Minnesota Department of Employment and Economic Development (DEED) has put together information for workers and employers.
The Minnesota Unemployment Insurance Program Shared Work program is available to employers to help avoid a layoff. Employees work reduced hours during a temporary slowdown and are paid unemployment benefits to offset part of their reduced wages.
MinneInno is compiling resources and webinars that may be of interest to businesses, including information on remote working and five steps to take regarding businesses decisions during this time.
Explore Minnesota is providing information specific to tourism-related industries.
Business Assistance during COVID-19
Offers up to an 80% guarantee for loans to businesses affected by COVID-19 to assist with machinery and equipment, moving expenses or working capital.
The Small Business Administration is offering low-interest federal disaster loans for working capital to businesses who are suffering substantial losses. Note: Minnesota is now eligible.
The SBA has developed a video to help answer questions and provide tips for applying. It is available on demand 24/7 and is the same training that is being provided daily in their live events.
It is expected that beginning later this week DEED will be accepting applications small emergency loans ranging in size from $2500 to $35,000 for Minnesota-based businesses effected by the Governor’s Executive Orders 20-04 and 20-08. These funds will be offered at 0% interest with a 5 year loan term. Businesses must also apply at the same time for SBA’s Economic Injury Disaster Loan program and have talked to their bank.
A listing of what individual banks are doing and programs they are offering to assist small businesses. Look here to see if your bank if offering additional programs.
Starting April 3, 2020 small businesses can apply for forgivable loan funds to help pay payroll, interest on mortgages, rent and utilities.
For Employees of Businesses
If a worker has been affected by COVID-19, they can apply for unemployment benefits through the Minnesota Unemployment Insurance Program. On March 16, 2020 an executive order was issued to ensure that workers affected by COVID-19 have full access to unemployment benefits.
The Minnesota Department of Labor has put together information about worker protections and specifically as it relates to COVID-19.
CareerForce in Chaska provides support and resources for job seekers.
General Business Programs
Open to Business is still available to small businesses and entrepreneurs; however, they are limiting their face to face contact, but are available via phone, video conference and email.
Carver County Advisor: Tyler Hilsabeck
The Minnesota Retailers Association has put together resources specifically for retailers
Resources for farmers including helplines for stress, daily living and financial matters.