Dear Neighbors,
I wanted to pass along news that local small-business owners who are facing economic hardship during the COVID-19 outbreak are now able to seek relief through the U.S. Small Business Administration’s (SBA) Disaster Loan Assistance Program. Minnesota is now among states where the federal SBA’s low-interest loans are available to cover small-business operating expenses after a disaster declaration was issued.
The Minnesota Department of Employment and Economic Development (DEED) indicates this program can provide low-interest loans of up to $2 million to small businesses and private non-profits.These loans can go toward working capital to meet need including payroll, accounts payable, and fixed debt payments that can’t be paid due to the COVID-19 pandemic.
Long-term repayment options of up to a maximum of 30 years are available at 3.75% interest, and at 2.75% interest for non-profits. Businesses can defer payments for the first four months and it is recommended owners apply online at sba.gov/funding-programs/disaster-assistance.
Loans can be directly dispersed within three weeks. Businesses will need to gather their tax statements from last year, in addition to providing financial information to show current and expected business losses.
Questions can be directed to the SBA Hotline at 1-800-659-2955. More information from Minnesota’s DEED can be found at https://mn.gov/deed/.
Hospital Donations Needed
Hospitals across the nation and here in Minnesota are running out of important personal protective equipment (PPE), such as masks and gowns, that help keep them safe while diagnosing and treating patients.
Due to this nationwide shortage, the Minnesota Nurses Association, local hospitals, and others are calling for donations of factory-made N95 ear loop masks or for volunteers to create CDC-approved, reusable face masks.
Masks can be safely donated starting Sunday, March 22 through April 5, from 9 a.m. until 1 p.m. and can be dropped off at the following locations:
Please be sure to remain in your car when you arrive to donate. A staff member will come to you to accept your donation.
This is a great way to support our healthcare professionals as they treat and diagnose Minnesotans. Please be sure to thank a doctor or nurse today!
Red Cross Blood Donations
The American Red Cross needs your help! The Red Cross faces a severe shortage because nearly 2,700 Red Cross blood drives have been canceled in response to the coronavirus outbreak. Blood drives account for more than 80 percent of blood that the Red Cross collects, so if you are healthy and eligible to donate, please visit RedCrossBlood.org, or use the Red Cross Blood Donor App to schedule an appointment.
Staying in Touch
I remain committed to ensuring our community is represented during this uncertain time. Please continue to reach out to me with any questions or concerns. I can be reached by phone at 651-296-6746 or via email at rep.sondra.erickson@house.mn.
Be well,
Sondra