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Rep. Lippert Approves Grants for Small Businesses Impacted by COVID-19

Friday, June 12, 2020

St. Paul, MN - Today, the Minnesota House of Representatives approved $62.5 million in grants for small businesses impacted by the COVID-19 pandemic. Being the first day of the special session, this legislation was part of a bipartisan and bicameral package of bills slated to be passed early on. State Representative Todd Lippert (DFL - Northfield) voted in favor of the legislation. 

“Since March, some of the smallest businesses in our community have been closed or operating at a limited capacity due to the COVID-19 pandemic. As many begin to slowly and safely reopen their doors, we’re stepping up to deliver the support they need,” said Rep. Lippert. “These are the businesses that make up our community. As we approve this resource for them today, I’ll continue to fight for the additional economic measures our state and those who care for us desperately need.”

The bill includes $60 million from the federal CARES Act, and $2.5 million from the Minnesota Department of Employment and Economic Development’s Emergency Loan Program. The focus of these funds will be on Minnesota’s smallest businesses, many of which are not as well-connected with private banks, and that were required to operate at 50% capacity or less as of May 18. The funds will be evenly split in their allocation to Greater Minnesota and Metro-area businesses. 

Under the bill, small businesses with 50 or fewer employees can receive grants up to $10,000 each. To be eligible, the business must meet the following requirements:

  1. Have a permanent physical location in Minnesota, 
  2. Be owned by a permanent resident of MN, 
  3. Be in good standing with the Sec. of State’s office and the Dept. of Revenue as of March 1, 2020, and 
  4. Demonstrate financial hardship as a result of the COVID-19 pandemic.

In contrast to existing programs designed to help business during the pandemic, grants will be awarded by lottery.

The bill is available here. Video of today’s floor vote is available here

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