The Walz Administration's daily news briefing is scheduled for today at 2:00 p.m. The conference call will be broadcast live on MPR and you can tune in here www.mprnews.org/listen.
Yesterday, Governor Walz signed a new Executive Order that provides economic security for Minnesota small business owners and independent contractors who are encountering financial hardship due to COVID-19. The executive action established a new no-interest, 50% forgivable loan program for small businesses.
I’ve provided more details of the loan program’s mechanics below.
The Small Business a Small Business Emergency Loan program will make loans available of between $2,500 and $35,000 for qualifying small businesses. The loans will be 50% forgivable, and offered at a 0% interest rate. If other financing becomes available to small businesses that received an emergency loan, such as federal funding, the emergency loan must be repaid.
These emergency loans will be made available by an existing network of lenders DEED works with across the state. Depending on the size of the loans offered to businesses, DEED estimates this emergency loan program will provide needed resources to between 1,200 and 5,000 businesses. DEED expects loan applications will available later this week through their lender network. Edina small businesses should send questions about this emergency loan program to ELP@state.mn.us.
Resources for Older Adults
The City of Edina has compiled helpful resources for older adults to ensure they can stay active and connected during the COVID-19 pandemic. However, it’s important to acknowledge that not all seniors have access to a computer or the internet. Please take time to check in on your elderly neighbors by giving them a call, or by practicing social distancing if you’re taking a walk in the neighborhood.
A reminder that AARP is hosting a recurring Coronavirus Information Tele-Town Hall meeting on Thursdays at 12:00 p.m. Call toll-free 855-274-9507 to join the live event.
Keep in Touch
Please continue to reach out anytime with questions. As we adjust to this new, but temporary “normal” I am here for you and our Edina neighbors. My cell phone number is 651-785-8696 and email is firstname.lastname@example.org. Follow me on my official Facebook page for additional updates.
It’s an honor to represent you at the state legislature.