St. Paul, Minnesota — This afternoon, the Minnesota House of Representatives passed a package of COVID-19 economic security legislation. The bill, HF 1507, contains provisions for housing assistance, a wage increase for personal care assistants, funding to expand broadband access, and small business loans.
Representative Zack Stephenson (DFL-Coon Rapids) is the author of the legislation that appropriates $55 million to the Small Business Emergency Loan Program at the Minnesota Department of Employment and Economic Development (DEED).
“Our small businesses are the backbone of our local economy,” Rep. Stephenson remarked. “They deserve our support, especially during a public health crisis. We cannot allow these hard working Minnesotans to be left behind as Washington, D.C. continues to prioritize big corporations for federal assistance.”
The Small Business Emergency Loan Program was launched by Executive Order 20-15 from Gov. Walz on March 23. The program’s original $30 million has since been exhausted.