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COVID-19 Guidance for Small Businesses

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  • 2020 COVID-19 Guidance for Small Businesses

Navigating COVID-19: SBDC Webinars

The SBDC is excited to announce a series of webinars being released to provide additional resources to individuals looking for clarification on how current programs can be leveraged based on your unique situation. Click here to view upcoming and archived webinars.

The Small Business Development Center (SBDC) at Minnesota State University, Mankato knows that small business owners are rightfully concerned about survival during these uncertain times. South Central Minnesota businesses have survived natural disasters before, and during those trying times, many had to do things differently. It is important to take the necessary steps now so that you come out of this disruption stronger than ever. Here are some key imperatives that can carry you through these uncertain times:

Manage your cash and credit.

How much cash do you have on hand?  How you could make it last for at least six months? If you don’t have enough cash on hand, evaluate how you can cut expenses or increase sales by doing something different.  Explore negotiations with your lenders, suppliers, or landlords, informing them you may need some form of cooperation in order to survive. Contact your bank to see if there are any accommodations for your current loans- turbulent times are turbulent for both sides. These situations can give you leverage in many ways to negotiate terms and pricing. When you come to an agreement, write down the date and name of the person you spoke to (in writing when possible).

Review & revise your sales strategy.

Now is the time when it is necessary to be increasingly realistic and creative. The goal is not to hunker down and hide, but to develop or brainstorm ways you could actually sell more of your products or services. How can you utilize online sales and/or delivery, such as curb-side pick-up?  Challenge yourself and your staff to think differently and ratchet up your value proposition!

Think outside the box.

Remember when you started your business on a shoestring budget and you were crazy creative on using word of mouth, organic social media, and key networks to sell your product or service? It’s time to jump back into that mentality. Be more creative with respect to your marketing expenses and look for ways to use marketing tactics that don’t have a significant cost.

  • Zero-in on Customer Success  One of the benefits of an economic downturn is that it frees up some of your time, and forces you to dig deep. Prioritize customer involvement- even if you’re only serving a few customers due to a slow down. Utilize free or low cost digital tools, and ask questions that allow you to nail down the specifics of your product, with the overarching goal of building the next phase on a strong foundation. By the time the downturn becomes an uptick, you’ll have a proven product or service ready for scale.
  • Zero-in on Customer Retention  Your immediate goal is to sustain business success. Because it is cheaper to keep a customer than acquire new ones, ensuring customer satisfaction is crucial to your short and long-term business success. Find ways to communicate and keep your name top of mind. This doesn’t necessarily mean promotional strategies, but by creating value in this chaotic time. Examples include sharing tips for staying safe, humor, and uplifting stories. Become a beacon of hope in a dark time.

Control employee expenses.

As you examine your business, look at how you can control expenses related to employees. Can you temporarily reduce expenses by delaying the hire of any additional employees? Perhaps use freelancers or contractors to temporarily reduce work-load. The State of Minnesota has put special concessions in place to alleviate some of the unemployment burdens faced by small businesses.

Spend every dollar as if it were your last.

Adopt the concept that you need to protect the lifeblood of your business: cash. Whether it’s cash going out in the form of expenses or cash coming in from revenues, cash is king.

Economic downturns can be chaotic and uncertain. Know that you are not in this alone. Our region of business leaders, economic developers, and Chambers of Commerce are pulling together and collaborating on various ways we can be of support to small businesses in our region. The SBDC along with our partners through Minnesota State University, Mankato’s Strategic Partnership Division are here to help you! While we are not currently meeting clients face-to-face, we are still seeing clients for business counseling via virtual methods (e.g. web conferencing, conference calls, etc.). We can work with you virtually on cash flows, financial analysis, and business strategies to help you survive and thrive. You have the energy and resolve needed to weather this storm! Together, we’ll get through this.

To set up an appointment, contact the SBDC at Minnesota State University, Mankato at info@myminnesotabusiness.com or 507-389-8875.

Additional Resources

2021 Federal Government Response to COVID-19 Information

http://www.usa.gov/coronavirus

SBA = 2021 Coronavirus (COVID-19): Small Business Guidance & Loan Resources

http://www.sba.gov/coronavirus

SBA Disaster Assistance in Response to the Coronavirus

https://www.sba.gov/disaster-assistance/coronavirus-covid-19

2021 Minnesota Department of Employment and Economic Development (DEED) COVID-19 Information & Resources

https://mn.gov/covid19/

US Chamber of Commerce COVID- 19 Business Preparedness Checklist  

https://www.uschamber.com/coronavirus

Minnesota State University, Mankato COVID-19 Information

https://mankato.mnsu.edu/about-the-university/news-and-events/covid-19-novel-coronavirus-and-the-campus-community/

2020 COVID-19 Updates

May 20

New Federal Resources for Small Business

The public website, covid.sb.org is now live and can be accessed by anyone looking for federal information related to COVID-19 and small business.

On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress with overwhelming, bipartisan support and signed into law by President Trump. 

In April 2020 under the CARES Act and with the support of U.S. Small Business Administration (SBA), America’s SBDC and the Association of Women’s Business Centers (AWBC) were awarded a grant to develop a new website that provides small businesses with access to a consolidation of COVID-19 related information and resources from multiple federal agencies. The grant also supports a new training platform for small business advisors. 

The project, titled “Resource Partners Training Portal (RPTP)” requires two centrally controlled but independent functions. The first is a web platform containing information to assist small business with surviving and recovering from the effects, physical, financial and economic of the Covid-19 pandemic. This centralized platform will consolidate information obtained from multiple federal agency resources and make it accessible in an organized format with searchable functionality. 

The other function of the website will be a training and learning platform for SBDC, WBC, SCORE and VBOC advisers. Recognizing the urgency of this project due to the economic pressures on small business concerns, America’s SBDC and AWBC envision the project rolling out in multiple phases, prioritizing the needs of small business concerns.

The training platform for small business advisors will feature live content, author interactive learning experiences, support of SCORM content, forums, communication and collaboration features and more. chat feature for learner collaboration. The expected launch date for the training platform is June 2020.

May 18

City of Mankato Loan

The following is a message from the City of Mankato regarding a loan opportunity :

Mankato-Small businesses that have lost at least 50 percent of revenue due to COVID-19 may apply for a loan of up to $5,000 through the City of Mankato’s Sustaining Loan Program. Funds may be used for operating capital for lease/mortgage payments, property taxes, supply and inventory and utility bills (funds will first be applied to any past due utility bills).

Loans have:

  • Zero percent interest rate for a one-year deferral period.
  • Interest rate of two percent after the deferral period.
  • Maximum length of two years from the time deferral period ends.

Applications are due by June 1, 2020. To request a paper copy, please contact staff at 311 or 507-387-8600. Submit applications via email; place in dropbox located in front of the Intergovernmental Center, 10 Civic Center Plaza, or mail to: 

City of Mankato
Attention: Travis Higgs
Intergovernmental Center
10 Civic Center Plaza
Mankato, MN 56001

For more information, questions or assistance email staff or call 507-387-8621.

May 14

Safely Reopening and Returning Work: MN DEED’s guidance for what businesses and workers should know

As Minnesota businesses begin the process of reopening and safely returning people to work, there are a lot of questions. You can find the most common questions at mn.gov/deed/safework.

Most importantly, businesses must be safe and healthy for their workers and customers.

  • Businesses must follow all CDC and MDH guidance and OSHA standards about creating a safe and healthy environment for workers and customers.
  • A business may not take adverse action (including terminating, laying off or other retaliatory action) against a worker for raising safety and health concerns, refusing to work under conditions they reasonably believe are unsafe or unhealthy related to COVID-19, participating in union activities concerning work place safety and health issues, filing a safety and health complaint, or participating in an OSHA investigation.

In order to reopen, any non-Critical Sector business or retail establishment must have a COVID-19 Preparedness Plan in place to protect the health and safety of their workers.  

  • Plans are extremely important to provide direction on how workers are going to remain safe. To help in the process, Minnesota Department of Health (MDH), DEED, and the Minnesota Department of Labor and Industry (DLI) have developed a template plan and guidance that businesses can use as a starting point. Businesses aren’t required to use this template, but a business’ plan does need to follow CDC and MDH guidelines and OSHA standards.
  • Wherever possible, workers should continue to work from home.
  • Businesses are encouraged to consult with workers on the development of their plans – it will make the plans better, proactively address many worker concerns and ensure workers are invested in the new norms businesses are setting.
  • We aren’t requiring businesses to submit their plans to the state for approval, but businesses should be prepared to provide a copy of your plan if requested.
  • Copies of the plan must be shared with workers in advance of reopening and posted at the workplace.

Once a COVID-19 Preparedness plan is in place and workers are called back to work, anticipate that some may be nervous or worried about returning to the workplace. Be flexible and provide necessary accommodations for workers.

  • This is an uncertain and challenging time, and many workers may have concerns about being back at work. Workers should also not have to sacrifice their health and safety for economic security. Businesses are encouraged to be as flexible as possible with workers, be responsive to requests for accommodations and ensure that you have provided appropriate protective gear in accordance with CDC and MDH guidance and OSHA standards – such as gloves if handling goods or money with customers, and non-medical face coverings.

Some employees may not be able to return to work.

  • Executive Order 20-05 provides a list of COVID-19 exemptions for workers, including those with underlying health issues or caretaking responsibilities.
  • Workers who qualify for these exemptions do not need to return to work and will continue to qualify for Unemployment Insurance benefits.

If a worker feels that their employer is not operating with a COVID-19 Preparedness Plan and/or not following health and safety protocols, there is action they can take.

  • Any worker who believes that their workplace is not following their COVID-19 Preparedness Plan or is not following CDC or Minnesota Department of Health guidelines is encouraged to attempt to resolve their concerns directly with their employer.
  • If the worker is not successful in that attempt, is not comfortable raising their concerns with their employer, or has additional concerns about the safety of their workplace, the worker should contact Minnesota OSHA at 651-284-5050 or Compliance@state.mn.us.
  • If a worker raises concerns with an employer about not operating with a COVID-19 Preparedness Plan and/or not following health and safety protocols and the employer does not address the concern in a reasonable amount of time, the worker can quit and not lose unemployment insurance eligibility benefits as long as it was reasonable to do so.
  • If a worker is fired for raising concerns about workplace safety–either with Minnesota OSHA or directly with their employer–they will not lose unemployment benefits eligibility.

State Unemployment Insurance law prevents the state from continuing to pay benefits to those who are no longer eligible.

  • Workers who are offered the opportunity to return to work and don’t qualify for an exemption under Executive Order 20-05 or state unemployment insurance law are no longer eligible to receive benefits.
  • We ask every applicant on a weekly basis whether they have refused an offer of suitable employment. Providing inaccurate information may result in an applicant being held overpaid for unemployment benefits.
  • When workers return to work or want to stop requesting unemployment benefits, no additional notification is needed. They simply should stop requesting weekly benefits in their unemployment insurance account. Some additional information about unemployment and returning to work can be found here.
  • Under Minnesota law, businesses can “raise an issue” regarding a former employee’s eligibility for unemployment insurance
  • Raising an issue is the way to tell us that you have a question regarding an employee’s eligibility for unemployment. You can find more information about how to raise an issue here.
  • Businesses must follow all CDC and MDH guidance and OSHA standards about creating a safe and healthy environment for workers and customers. For non-Critical Sector businesses, this includes having a COVID-19 Preparedness Plan.
  • A business may not take adverse action (including terminating, laying off or other retaliatory action) against a worker for raising safety and health concerns, refusing to work under conditions they reasonably believe are unsafe or unhealthy related to COVID-19, participating in union activities concerning work place safety and health issues, filing a safety and health complaint, or participating in an OSHA investigation.

If a worker or employer notifies the department that an offer to return to work was refused, we will review the applicant’s eligibility for unemployment. What happens next?

  • DEED will mail questionnaires out to both the applicant and employer about why the applicant did not return to work – including questions about the applicant’s medical situation. A doctor’s note may be requested during any follow-up process for additional information.
  • Once the department has enough information to make a decision, a written determination about the applicant’s continued eligibility for unemployment will be provided.
  • At this point, either the applicant or employer can file an appeal within 20 calendar days. Minnesota Unemployment Insurance Law provides an opportunity for a fair and impartial hearing to any party who disagrees with a determination issued by the Minnesota Unemployment Insurance Program.
  • A telephone hearing and an appeals process follow from there, which will be outlined in detail to any worker or employer in this situation.

We know that both businesses and workers want to make the process of returning to work safe, effective, and fair. Thoughtful planning, clear communication, and a collaborative and generous spirit are going to get us through this difficult time.

We hope these guidelines make it clear how this process will work, and we encourage everyone to get more information in the FAQ section of UIMN.org.

May 13

Reopening Tips

As we look towards the future, the Centers for Disease Control and Prevention and the Minnesota Department of Economic Development have provided resources for reopening and returning to work.

https://www.cdc.gov/coronavirus/2019-ncov/community/reopen-guidance.html

https://mn.gov/deed/newscenter/covid/safework/non-critical/

May 7

Webinar: Educating Businesses & Consumers, BBB

Join BBB’s CEO Susan Adams Loyd and DEED’s Commissioner Steve Grove for a live conversation and Q&A on government guidelines and resources for reopening.

Tuesday, May 12 | 11:00AM – 11:30AM

https://zoom.us/webinar/register/WN_z8-6-5uQRpWLZSEj0ywMdw

May 5

PPP Loan Update

The SBA’s updated numbers for the second round of the Paycheck Protection Program funding indicates the Great Lakes Region, which includes Illinois, Indiana, Michigan, Minnesota, Ohio and Wisconsin, has supported nearly 308,000 small businesses and non-profits with a total of $22.8 billion in approved PPP loans.  As of May 1, 2020, 37,267 Minnesota small businesses have been approved for $2.2 billion in second round of PPP funding.  In total, 83,650 Minnesota small businesses will benefit from $11.2 billion to date from PPP loans.

PPP FAQ Updated

The SBA and Treasury continue to provide updates to the FAQ’s for PPP Loans.  Today’s updates include:

  • Will a borrower’s PPP loan forgiveness amount be reduced if the borrower laid off an employee, offered to rehire the same employee, but the employee declined the offer?
  • Can a seasonal employer that elects to use a 12-week period between May 1, 2019 and September 15, 2019 to calculate its maximum PPP loan amount?
  • Do nonprofit hospitals qualify as “nonprofit organizations” under section 1102 of the CARES Act?

For more information on these and other questions, please visit this link.

EIDL and Advance Open to Agriculture

SBA Administrator Jovita Carranza announced today that agricultural businesses are now eligible for SBA’s Economic Injury Disaster Loan (EIDL) and EIDL Advance programs.

SBA’s EIDL portal will reopen today and begin accepting new EIDL applications on a limited basis only, in order to provide unprecedented relief to U.S. agricultural businesses. For agricultural businesses that submitted an EIDL loan application through the streamlined application portal prior to the legislative change, SBA will move forward and process these applications without the need for re-applying.

All other EIDL loan applications that were submitted before the portal stopped accepting new applications on April 15 will be processed on a first-in, first-out basis.

Veteran Small Business Training

The SBA’s Minnesota District Office is hosting a virtual session of Boots to Business Reboot on June 5, 2020 from 8 a.m. – 3:30 p.m.

This is the first of a FREE two-step training program that gives Veterans and their spouses with: 

  • An overview of business ownership.
  • Business planning know-how.
  • Understanding of public and private sector resources.

Register Now

MN Childcare Provider Grants

The State of Minnesota is making grant dollars available to assist childcare providers. The window to apply for these grants is May 5-12, 2020. For more information or to apply, please visit this link.

SBA and SADBOC Training This Week

The SBA’s Minnesota District Office is hosting several training webinars to provide more general technical assistance and are a part of the Money Smart for Small Business program developed collaboratively by the FDIC and SBA.

To learn more and register today, visit the links below:

https://www.eventbrite.com/e/104144825978

Finally, don’t forget to register for the multiple training opportunities being offered this week as part of the 2020 SADBOC Government Virtual Procurement Fair, including Tuesday’s trainings on: 

  • Federal Certifications: (8(a); HUBZone; ED/WOSB)
    Shaun McClary, U.S. Small Business Administration
    (SBA)
  • Using Section 3 for Local Contracting Firms
    James Baltazar, Housing and Urban
    Development
  • CERT Certification
    Jef Yang, City of St. Paul
  • Selling to the State of Minnesota, Where to Find
    Opportunities, and Certifications
    Twauna Mullins and Aaron Anderson, Dept. of
    Administration – OEP
  • What happens if….? Answers to the Most Common
    Coronavirus Questions
    Tim Connelly, Tim Connelly Law PLLC

May 4

Resources for Retailers

The following outlines information for Minnesota Retailers regarding COVID-19:

https://www.mnretail.org/covid-19

April 28

Marketing Advice to Combat an Economic Downturn

Today, Apr 28, 2020 12:00 PM CDT

Wondering how to market your business during the economic downturn related to coronavirus?  Consistent, clear communication with your customers is vital, so they understand when, how, and where they can still do business with you.

Join SCORE and marketing maven and host of the Small Business Revolution, Amanda Brinkman, as she outlines actionable marketing strategies to help you weather the storm.

Register Here

SBA Training This Week

The SBA’s Minnesota District Office is hosting several training webinars this week to help you address challenges you may be facing right now. 

Training today, including one in Spanish, will address current SBA funding options available through just-passed legislation. 

Training on Wednesday, Thursday, and Friday will provide more general technical assistance and are a part of the Money Smart for Small Business program developed collaboratively by the FDIC and SBA.

To learn more and register today, visit the links below:

Unemployment Available for Self-Employed and Independent Contractors

Normally, self-employed people and independent contractors would not be eligible for unemployment benefits in Minnesota.  But the Coronavirus Aid, Relief, and Economic Security (CARES) Act – passed by Congress and signed into law on March 27, 2020 – created a new program to provide benefits specifically for these people. Learn more here.

Small Business Relief Program for Hennepin County Businesses

Hennepin County has created the Small Business Relief Program to help small local businesses meet immediate financial needs. Learn about their emergency forgivable loans that are available for up to $7,500 and apply by noon on May 8, 2020.

Register for the SADBOC Government Procurement Training Week

Due to the COVID-19 Pandemic, the 21st Annual SADBOC Government Procurement Fair and Matchmaking has gone virtual.  into a week of virtual workshops and matchmaking. This is our effort to make the planned workshops available to you while we continue to socially distance.

Registration for both events is FREE but required.  The deadline to sign up for matchmaking is midnight on Sunday, May 3.

Virtual Workshops 
May 4 – 7, 2020, 9:00 a.m. to 3:00 p.m.

The workshop schedule and links to participate are included on the Program Agenda located here

Virtual Matchmaking
May 8, 2020, 9:00 a.m. to 11:30 a.m. Register for matchmaking here.

April 27

Open & Closed Survey

The Small Business Development Center and MSU Strategic Partnerships will publicize this list on an ongoing basis over the coming months to share your business status with the Mankato area community. If you would like to be included in this directory, please answer a few simple questions below. Feel free to share this link with other area business owners.

Take the Survey

Social Distancing Survey

The Department for Employment and Economic development is looking for input to assist in designing what the new “social distancing norms” will look like for businesses once the Stay-at-Home order has been lifted. The main goals are to help Minnesotans stay safe and healthy while enabling more social and economic activity. Your responses will help decide what will work best for Minnesotans.

The information you provide through the survey will be anonymized and have a focus on identifying trends for different organizational categories rather than individual specific people or organizations. Thank you for the feedback you provide

Take the Survey

Minnesota Department of Employment and Economic Development (DEED)
On April 23rd, Governor Tim Walz reviewed a framework for evaluating when it is safe to reopen a variety of workplace, social, and educational environments in Minnesota. That framework takes into consideration a number of health, economic, and social factors – and applies them to a variety of settings that have varying levels of predictability and size considerations. 

DEED is hosting a webinar on EO 20-40 with presenters who will talk through the process of returning workers in industrial and office-based business back to work.DEED WEBINAR on EO 20-40Friday, April 24 from 11:30 AM -12:30 PM
JOIN HERE: https://mn.gov/deed/newscenter/covid/safework/webinar/

If you miss the webinar, you can find a recording of it and access to the presentation at this same link. 

In order to reopen, EO 20-40 requires these businesses to do 3 things:  1. Create and share with their employees a COVID-19 Preparedness Plan that explains the actions they are taking to ensure social distancing and keep workers safe. The Department of Labor and Industry has created a template plan, which is optional for businesses to use as a starting point. 2. Engage in health screening of employees each day at arrival.3. Continue to use telework whenever possible. 

For more information about EO 20-40, including what it means for businesses and workers and a number of FAQs and additional information, please visit https://mn.gov/deed/newscenter/covid/safework/.

Eide Bailly: Business Considerations Webinar Series 

The coronavirus continues to have an impact on businesses and individuals alike. Join us for one or all of the upcoming COVID-19 business consideration webinars by clicking on the title to register. Tax

Considerations Related to COVID-19 May 1 | 12 – 1 p.m. CDT There have been many legislative changes made in recent weeks revolving around the coronavirus pandemic. This webinar will discuss recent and potential future tax law changes, including the Families First Act, CARES Act and the People First Initiative, as well as whatever Congress chooses to call Round 4.

Improve Your Cash Flow: Key Tax Considerations Related to COVID-19 May 7 | 12 – 1 p.m. CDT The coronavirus has changed the tax landscape. During this webinar, we will discuss cash flow opportunities, including Qualified Improvement Property, NOLs, modifications to interest deduction limits, the deferral of certain payroll taxes and the employee retention credit.

April 21

USDA Response to COVID-19

USDA-COVID-ResponseDownload

April 17

SBA Processes More Than 14 Years’ Worth of Loans in Less Than 14 Days

The Paycheck Protection Program and Economic Injury Disaster Loans are saving millions of jobs, providing much-needed relief, and helping America’s small businesses make it through this challenging time. 

As of this morning, the SBA is currently unable to accept new applications for the PPP based on available appropriations funding.

Also, the SBA is unable to accept new applications for the EIDL COVID-19 related assistance program, including EIDL Advances, based on available appropriations funding. Applicants who already submitted their applications will continue to be processed on a first-come, first-served basis. 

SBA Administrator Jovita Carranza issued this joint statement with U.S. Treasury Secretary Steven Mnuchin to “urge Congress to appropriate additional funds for the Paycheck Protection Program — a critical and overwhelmingly bipartisan program — at which point we will once again be able to process loan applications, issue loan numbers, and protect millions more paychecks.”

Additional Resources for Small Businesses

The SBA is committed to helping small businesses recover from the economic impact of COVID-19. Additional assistance includes:

April 15

Helpful Blogs and Webinars from SCORE

SBA resource partner, SCORE is committed to helping businesses through the unprecedented challenges from the coronavirus outbreak. Check out these blog posts and reach out to a mentor for more: 

SCORE also has some helpful webinars coming up.  Check them out at https://www.score.org/coronavirus.

Understanding the Paid Leave Provisions of Families First Act

This Department of Labor training session will provide attendees with a firm understanding of the basics of the Families First Coronavirus Response Act including the paid leave rights and responsibilities of employees and employers.  The webinar will also include a Q & A session.

Thursday, April 23, 2020 at 9 a.m. to 11 a.m.Join the Meeting; Meeting number (access code): 627 631 473
Meeting password: duA9HpwBp76 (38294792 from phones and video systems

IRS Updates

The IRS has provided the following update: 

Paycheck Protection Program Update

The Treasury Department has published new information regarding the Paycheck Protection Program, including:

In case you missed it, here’s some additional links that might be helpful as well:

Applicable Affiliation Rules

April 14

Webinar for Duluth Area Small Businesses: TODAY

Tuesday, April 14,  3:15 p.m.; Register

The SBA will join the Duluth Area Chamber for a free webinar and conversation with Congressman Pete Stauber, the U.S. Chamber to cover key elements of the CARES Act to help American small businesses and employees. 

Job Announcements

The SBA is hiring temporary employees to assist with disaster relief efforts during these unprecedented times. The positions include:

  • Call Center Customer Service Representative
  • Document Preparation/Legal Review/Loan Closings
  • Loan Processing/Credit Analysis/Mortgage Underwriting
  • Program Support

Apply today

SCAM Alert

We are alerting the public about potential fraud schemes related to economic stimulus programs offered by the SBA in response to the Coronavirus Pandemic.  

Fraudsters have already begun targeting small business owners during these economically difficult times. Be on the lookout for grant fraud, loan fraud, and phishing. Learn more here.

Expanded Unemployment Benefits

The COVID-19 pandemic has increased the number of Americans applying for unemployment insurance. In response, the U.S. Department of Labor has issued guidance to help states implement expanded unemployment benefits under the CARES Act.

Guidance on Federal Pandemic Unemployment Compensation, under which states will administer an additional $600 weekly payment to eligible individuals.

IRS Updates

The IRS has provided the following updates: 

Funding Options Training Video Online

Small businesses are facing an unprecedented economic disruption due to the Coronavirus (COVID-19) outbreak. In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak. 

We have created a short training video about the Payroll Protection Program, as well as SBA’s Economic Injury Disaster Loan and Advance Program, and more.  

April 13

Outreach for COVID-19 Economic Impact Payments

The IRS has began sending out Economic Impact Payments. The following documents outline information from the IRS regarding the payments, including one in multiple languages.

The IRS also created an online form for people who do not normally file taxes. The form will collect information so they can receive the Economic Impact Payment.

2-e-poster_if-you-still-need-to-fileDownload

    

1-e-poster_economic-impact-paymentsDownload

PPP Recently Asked Questions

Paycheck-Protection-Program-Frequently-Asked-QuestionsDownload

PPP Now Open to Sole Proprietors and Contractors

Self-employed individuals and independent contractors became eligible on April 10 to apply for the  Paycheck Protection Program, or PPP. The loans are available to cover up to eight weeks of average monthly payroll plus 25%.

Find PPP program details, FAQ’s, guidance for faith based organizations, and  more, as well as other SBA relief programs at www.sba.gov/coronavirus.

USDA Federal Rural Resource Guide

The USDA has put together a resource matrix that organizes funding opportunities identified in the CARES Act and other federal resources that can help support rural America. You can find it here.

Webinars: SBA Funding Options for COVID-19 Related Exonomic disruptions

Small businesses are facing an unprecedented economic disruption due to the Coronavirus (COVID-19) outbreak. In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak. Join us and learn about the Payroll Protection Program, as well as SBA’s Economic Injury Disaster Loan and Advance Program, and more. There will be a short presentation followed by a moderated Q&A session. After registering you will receive the Skype webinar log in information.

Tuesday, April 14

9 a.m.; Register
or 2:30 p.m.; Register (in Spanish)

Wednesday, April 15

1 p.m.; Register
or 6 p.m.; Register 

Thursday, April 16

1 p.m.; Register 
or 6 p.m.; Register (in Spanish)

Friday, April 17 

9 a.m.; Register 
or 1 p.m.; Register

After registering you will receive the Skype webinar log in information.

If you are unable to register, please sign up for a wait list spot.  We will accept as many wait listed people as possible to each session.

Stay tuned for training registrations for next week coming soon!

Local Funding Programs for Small Businesses

Local governments are stepping up to help small businesses in their areas weather the economic crisis caused by coronavirus. Here’s a small sample of what’s being offered:

We highly recommend you search out the state and local area websites and sign up for newsletters to stay informed of what’s being offered by your local municipalities to help meet the needs your small business has right now.

April 10

Local Funding for Small Businesses

Local governments are stepping up to help small businesses in their areas weather the economic crisis caused by coronavirus. Here’s a small sample of what’s being offered:

We highly recommend you search out the state and local area websites and sign up for newsletters to stay informed of what’s being offered by your local municipalities to help meet the needs your small business has right now.

SBA Disaster Loan Training Available

The SBA provides low-interest disaster loans to help businesses recover from declared disasters.

Join us and learn about the SBA’s Disaster Loan programs, including the Economic Injury Disaster Loan and Advance Program, as well as the Payroll Protection Program. There will be a short presentation followed by a moderated Q&A session.

Monday, April 13

9 am; Register or 1 pm; Register 

Tuesday, April 14

9 a.m.; Register or 2:30 p.m.; Register (in Spanish)

Wednesday, April 15

1 p.m.; Register or 6 p.m.; Register 

Thursday, April 16

1 p.m.; Register or 6 p.m.; Register (in Spanish)

Friday, April 17 

9 a.m.; Register or 1 p.m.; Register

After registering you will receive the Skype webinar log in information.

If you are unable to register, please sign up for a wait list spot.  We will accept as many wait listed people as possible to each session.

Stay tuned for training registrations for next week coming soon!

Webinar: Lead Now

April 13 | Lead Now

These turbulent times require strong leadership and leaders who can make fast decisions without a lot of facts or past experience. As entrepreneurs many of you are naturally wired to step into these times and we want to provide you with a forum to get your questions answered and to share with others. We are offering three issues solving sessions using the Entrepreneurial Operating System (EOS™) methodology to help you Lead Now.

Looking for a lender?

The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.

Please visit the U.S. Treasury website for additional resources regarding the Paycheck Protection Program and assist you in finding a lender.

https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses

April 9

Webinar: Local Programs & Local Successes

April 15, 2020 | Local Programs & Local Successes

Webinar: Sustaining a Small Business During a Pandemic

April 14, 2020 | Sustaining a Small Business During a Pandemic

Updated Paycheck Protection Program Documents

The following are the latest documents regarding the Paycheck Protection Program including the new lender application form and additional FAQ’s.

PPP-AgreementDownload

April 8

Webinar: The CARES Act- What does it mean for Small Businesses?

April 10, 2020 | The CARES Act: What does it mean for Small Businesses?

Business Resiliency Webinar: Keeping the Lights on

April 14, 2020 | 1:00pm ET/10:00am PT

An actionable business resiliency plan could mean the difference between business continuity or closure.

Join Grow with Google and America’s SBDC for a no-cost Business Resiliency webinar, “Keeping the Lights On”. This webinar includes an introduction to a 25-page guide to help small business owners prepare to respond quickly and recover from disruptions. Webinar participants will receive the ‘Business Resiliency Guide’ and a ‘Business Resiliency Plan’ template they can customize to meet the specific needs of their business.

Keeping the Lights On will cover how to:

· Identify your critical resources

· Plan to use alternative resources

· Respond with your plan

· Bring your business back to normal

Includes FAQs from previous webinars

This webinar will not cover information regarding the current disaster loans. Please go to sba.gov for current Coronavirus relief options.

Grow with Google will help you :

· Discover Google tools that can help you work and manage your business during this time of uncertainty

· Get insights on more online and timely resources for small businesses

Register Here

April 7

Navigating COVID-19: SBDC Webinars

The SBDC is excited to announce a series of webinars being released to provide additional resources to individuals looking for clarification on how current programs can be leveraged based on your unique situation. The first webinar will take place Wednesday, April 8th to discuss the CARES Act, and what it means for Nonprofits. Registration is limited to 20- secure your spot today! Click here to view upcoming and archived webinars.

April 6

The Small Business Owner’s Guide to the CARES Act

The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress are intended to assist business owners with whatever needs they have right now. The following outlines frequently asked questions of the program:

CARES-Act-Small-Business-FAQsDownload

April 3

SBA’s Paycheck Protection Program

WASHINGTON – The U.S. Small Business Administration Administrator Jovita Carranza today launched the Paycheck Protection Program, a $349 billion emergency loan program created last week with the President’s signing of the Coronavirus Aid, Relief, and Economic Security Act (CARES). The program provides forgivable loans up to $10 million to small businesses left financially distressed by the Coronavirus (COVID-19) pandemic. The loans, which will be administered at the local level by a national network of banks and credit unions, are designed to maintain the viability of millions of small businesses struggling to meet payroll and day-to-day operating expenses. The loans, which are 100% backed by SBA, are being provided to small businesses without collateral requirements, personal guarantees, SBA fees, or credit elsewhere tests. Those eligible for the program include small businesses, certain non-profits, veterans’ organizations, self-employed individuals, independent contractors, and other businesses meeting size standards based on their North American Industry Classification System code. The Paycheck Protection Program’s maximum loan amount is $10 million with a fixed 1% interest rate and maturity of two years. The loans are available to cover up to eight weeks of average monthly payroll (based on 2019 figures) plus 25% and payments are deferred for six months (interest does accrue). The SBA will forgive the portion of loan proceeds used for payroll costs and other designated operating expenses for up to eight weeks, provided at least 75% of loan proceeds are used for payroll costs.

Visit www.SBA.gov/Coronavirus for additional resources about protecting your business, employees and customers.

New Ulm Emergency Relief Small Business Grant

The New Ulm EDA has approved an Emergency Relief Small Business Grant Program for businesses with commercial addresses in New Ulm. The grants are $2500 and are for the business owner to be able to make monthly fixed expense payments, etc.  Eligible businesses are ONLY those closed down by the EO 20-04 and 20-08, applicant must be the business owner and application must include a W-9.   Applications are here: https://www.ci.new-ulm.mn.us/

April 2

Waseca COVID-19 RLF Loan Application

The Waseca Economic Development Authority is making available emergency loans to help small businesses successfully get through the financial impacts caused by the response to the spread of the COVID-19 virus. The funds provided are to help bridge the financial gaps that must be covered while waiting for assistance to arrive from the State of Minnesota and Federal Government programs.

WASECA-COVID-EDA-LoanDownload

Peacetime Emergency Child Care Grants

As part of their COVID-19 Response Supplemental Budget proposal, Gov. Tim Walz and Lt. Gov. Peggy Flanagan proposed $30 million in funding for emergency grants for licensed child care providers serving essential workers during the COVID-19 public health emergency. Child care providers and educators themselves are expressly listed as essential.

The Minnesota Department of Human Services, Governor’s Children’s Cabinet and Child Care Aware of Minnesota are working on the grant application and distribution process. Below are answers to frequently asked questions about the grants, as of March 31, 2020.

Peacetime-Emergency-Child-Care-FAQsDownload

Paycheck Protection Program

The Paycheck Protection Program (PPP) is intended to support businesses (including nonprofits—colleges and universities) with fewer than 500 employees by providing a loan to cover up to eight weeks of payroll costs. These funds can be used for payroll, rent, utilities, and mortgage interest. The loan will be forgiven if at least 75 percent of the forgiven amount is used for payroll while maintaining compensation levels and employees over the 8 week period after the loan is made. Organizations can begin applying for these loans on Friday, April 3.

The U.S. Department of the Treasury has released a short summary that describes who is eligible, how much money is available per borrower, how to apply, and other important details.

PPP-Borrower-Information-Fact-SheetDownload

April 1

SBA Coronavirus Relief

The following is a comprehensive outline of the relief programs being offered by the U.S. Small Business Administration (SBA).

A Guide for Minnesota Small Businesses Who Need Help

Over the past few weeks, several state and federal programs have been announced to assist small businesses struggling during the COVID-19 pandemic.

Different programs make sense for different businesses, so we’re providing a summary guide to help small businesses quickly see which programs might be right for their situation.

View this new guide on the DEED website to see at a glance all the programs available now to businesses.

April 1st: Navigating Bills Due

It’s the first of April, and that usually means a whole bunch of bills coming due – both for your business and for you personally. And right now, you might not have the money to pay them and any financial help you can get from the government won’t be here soon. So let’s talk about how to lower or delay some of these bills.  

DO THIS SOON
It’s easier to get deferrals or reductions on bills if you contact vendors BEFORE you are in trouble. This is your job this week.  
IDENTIFY YOUR BILLS: Collect the most recent statements of all accounts you pay regularly, not just monthly, but quarterly, semi-annually, and annually. These may be on your credit card bills—especially for services like website hosting and cloud-based applications. Contact the people you normally work with, such as a sales representative at a key vendor (for instance, in my business—a publishing company—it may be our book printer or distributor).  

MAKE CALLS AND SEND EMAILS: For each account, call your sales representative, agent, or customer service, and do the following: Explain your situation: “my business is temporarily shut/reduced due to the coronavirus” (I’d use the term “temporarily” so as to indicate you’re going to be back in business) and ask to either or both lower your rate or defer payment.  

UNDERSTAND YOUR VENDOR’S SITUATION: Some of your most important vendors are independent contractors and small businesses. They’re probably in the same boat as you. Try to pay their bills, meet their needs as much as possible. That big telecom company or website hosting company you use is in much better position to ride this out than they are.  

BE COURTEOUS: Your vendor may be in the same situation you are—especially if they are a small business too.  

NEGOTIATE: You don’t have to take the first “no” for an answer. Remember, a deferral or payment plan is also a good outcome for you now. Banks and big corporations have made public statements saying they’ll work with customers.  

WHO’S MOST IMPORTANT: Identify who are your most important vendors and start talking to them NOW. This is especially true if you have independent contractors you depend on. Make sure you keep a good working relationship. And figure out which vendors you could do without if your business changes dramatically, and pay those last.

March 30

DEED Finance Assistance

Just a reminder of the special DEED business finance tools you and your businesses can use to help get through these challenging times https://mn.gov/deed/newscenter/covid/employers/  :

  • Small Business Emergency Loans ($30 million – Executive Order 20-15)
    • Businesses use DEED’s list of certified lenders
    • Applications to become a certified nonprofit lender will be available on Monday (3/30)
  • Loan Guarantees ($10 million – passed by Legislature this past week)
    • Program information – including lender enrollment applications – will be available on Monday (3/30)
    • Please raise awareness of this program with your local lenders
  • More flexibility on the use of RLFs funded by state MIF repayments (Exec. Order and Legislation)
    • Program flexibility is available through June 30, 2020

Please also check out the SBA Economic Injury Disaster Loan Program at: https://www.sba.gov/content/sba-disaster-loans-minnesota-small-businesses-impacted-covid-19.    

A helpful video regarding the SBA Economic Injury Disaster Loan Program is available at: 

We also encourage you to check out these COVID-19 resource pages:

March 27

SBA Disaster Loan Training

Minnesota small businesses can now apply for SBA Economic Injury Disaster Loans (EIDL). Training is now being offered twice daily this weekend and next week to help answer questions and provide tips for applying.

Saturday, 3/28/2020
9 am; Register or 1 pm; Register

Monday, 3/30/2020
1pm; Register, or 6 pm; Register

Tuesday, 3/31/2020      
9am; Register, or 1 pm; Register

Wednesday, 4/1/2020
1 pm; Register, or 6 pm; Register 

Thursday, 4/2/2020           
1 pm; Register, or 6 pm; Register

Friday, 4/3/2020  
9 am; Register, or 1 pm; Register

Can’t make one of the calls above? To help meet demand, and give you access to the materials 24/7, check out this video. 

March 26

Emergency Loan Program Applications Being Accepted

Southern Minnesota Initiative Foundation (SMIF) was chosen as one of nearly two dozen statewide organizations to accept Small Business Emergency Loan applications. Businesses located in SMIF’s 20-county region must submit applications directly to SMIF lenders. While the outline of DEED’s Small Business Emergency Loan program is available online, agency staff are still developing application approval criteria. Loan considerations will start when DEED provides application approval criteria. Please check the emergency response page for updates.

Governor Tim Walz Directing Minnesotans to Stay at Home

Beginning on Friday, March 27, 2020 at 11:59pm through Friday, April 10, 2020 at 5:00pm, all individuals living in the State of Minnesota are ordered to stay at home, outside of essential activities. Read the full emergency executive order here.

SBA Economic Injury Disaster Loan Training Video

The Minnesota District Office has been hosting training two times a day to help answer questions and provide tips for applying. To help meet demand and give you access to the materials 24/7, the following video was created: https://www.saintpaulchamber.com/uploads/b/120629884-340469217520912643/zoom_0_392.mp4?utm_medium=email&utm_source=govdelivery

March 25

Impact of Coronavirus on Small Businesses

South Central SBDC Programming

All programming through the South Central SBDC has been cancelled through April 30th. Please check back for additional information and updates as this is a fluid situation.

Hennepin County Sheriff’s Office Offers Tips on Emotional Well-Being During the COVID-19 Outbreak

Yesterday, the Hennepin County Sheriff’s Office issued a press release regarding the emotional distress and anxiety that is often brought on by public health events. Feeling anxious, confused, overwhelmed, or powerless is common during an infections disease outbreak, especially in the face of a virus with which the general public may be unfamiliar. The following outlines a few tips and overall health and wellness information from the press release:

Stress during an infectious disease outbreak can include:

  • Fear and worry about your own health and the health of your loved ones
  • Changes in sleeping or eating patterns
  • Difficulty sleeping or concentrating
  • Worsening of chronic health problems
  • Increased use of alcohol, tobacco, or other drugs
  • Irritability
  • Increased depressive symptoms
  • Increased anxiety symptoms

How you can support yourself and others:

  • Set a limit on media consumption, including social media, local or national news.
  • Stay Active. Make sure to get enough sleep and rest. Stretch, exercise and make time to unwind.
  • Stay hydrated and avoid excessive amounts of caffeine or alcohol.
  • Eat healthy foods when possible.
  • Connect with loved ones and others who may be experiencing stress about the outbreak. Talk about your feelings and enjoy conversation unrelated to the outbreak.
  • Read, listen to a book on tape.
  • Take a bath, shower or practice meditation.
  • Do something nice for someone else.
  • Practice gratitude and choose a positive mindset.

To read the rest of the press release or for more news on the Hennepin County Sheriff’s Office, visit https://www.hennepinsheriff.org/

March 24

DEED COVID-19 Small Business Emergency Loan Program

DEED is creating a Small Business Emergency Loan Program by making available $30 million from special revenue funds. These dollars will be used by DEED’s lender network to make loans of between $2,500 and $35,000 for qualifying small businesses. The loans will be 50-percent forgivable, and offered at a 0% interest rate. This program is expected to be open and accepting applications by the end of this week.

SBA Disaster Assistance in Response to the Coronavirus

There are two ways to apply for the SBA COVID-19 Economic Injury Disaster Loans (EIDL)

  • Apply online at https://disasterloan.sba.gov/ela/: Once reaching the website, select apply online to register. It is suggested to apply between 7pm and 7am due to high volume traffic during the daytime. Some users are having issues using Chrome- please use Edge or Explorer.
  • Work with an SBDC Consultant: A financial consultant will be assigned for free to aid you in this process. Please apply on our website at www.myminnesotabusiness.com or call at (507) 389-8875. Have questions? Email us at info@myminnesotabusiness.com.

March 23

SBA Disaster Assistance in Response to the Coronavirus

The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Minnesota small businesses are now eligible for the SBA Economic Injury Disaster Loan Program. For additional information, please visit https://www.sba.gov/funding-programs/disaster-assistance.

  • This program can provide low-interest loans of up to $2 million to small businesses and private non-profits.
  • These loans may be used to pay fixed debts, payroll, accounts payable and other bills.
  • The current interest rate is 3.75% for small businesses. The non-profit rate is 2.75%.
  • These loans have long-term repayment options, up to a maximum of 30 years.
  • There is a 12 month deferment for the first payment.
  • Anticipate 3-4 weeks for a response.

Unemployment Insurance Information

Some additional tips to aid you in the process of applying for unemployment benefits:

  • Apply online at www.uimn.org. The system is designed to be self service- answer the questions as best as you can and hit submit.
  • Find answers to your questions without calling. Start by selecting “Applicants in the upper left corner of the Unemployment Insurance website and select from menu options: What do I need to know? How do I apply? How do I get paid? What affects my benefits? These are designed to answer the questions most people have (if you call, you may have a long wait).
  • Get help from others you know. If you are not comfortable filling out forms online, please have an other individual help walk you through it. You’re not alone.

One Minnesota means we help one another- and we know when to ask each other for help. We’re asking you to help us better serve Minnesotans in this crisis by applying online for unemployment benefits.

3 Ways You Can Help the State Government During the COVID-19 Crisis

It’s been an unprecedented week for the Minnesota economy. One question the state government continues to get is: How can I help? There are three things suggested at this time:

Spread Helpful Information: In a crisis, misinformation can spread quickly. We need to counter that by letting people know exactly what is going on, along with the resources available for help. The following are some links to share with business and the civic community:

Anything you can do to spread these messages will make a difference- along with the most important overall message, to STAY HOME.

Tell Us How You Can Help: Our State Emergency Operations Center (SEOC) has set up an intake process for private sector offers to help during the COVID-19. Already we’re hearing a lot of offers for assistance to provide critical parts for emergency operations, additional masks, and other capital resources. If you have an idea for the way your business can help, please email: HSEM.ppp@state.mn.us.

Send Us Your Ideas On What State Government Should Be Doing: We know there are lots of ideas in the business community on what state government should be doing, and we want to hear them. We’ve set up an online form for you to submit your ideas so that we can categorize them and get them to the right agency or individual. Submit your ideas here: https://bit.ly/2J2ozcA

March 17

SBA Disaster Assistance in Response to the Coronavirus

This morning, the U.S. Small Business Administration held a webinar on the current status of SBA funding for businesses impacted by the COVID-19 virus. Currently, MN Department of Employment and Economic Development are finalizing Minnesota’s eligibility. tps://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

Unemployment Insurance Information

In order to slow the spread of the COVID-19 virus, Governor Walz announced the temporary closure of Minnesota restaurants and bars to dine-in customers as well as the closure of other places of public accommodation and amusement. This order is effective March 17th at 5:00pm until March 27th at 5:00pm. The governor issues an executive order to help ensure that workers who are not able to work as a result have benefits available. Workers who are unemployed or who have hours reduced due to the COVID-19 outbreak are asked to apply for unemployment benefits online at https://www.uimn.org/.

COVID-19 and Cyber Security

As countries, states, and communities take preventative measures to reduce the spread of COVID-19, more businesses are allowing their employees to work remotely. It’s important to understand how this situation may affect you cyber-security hygiene. The following information outlines key points in keeping your business safe from cyber-criminals.

  • Most cyber-criminals achieve malicious goals through phishing attacks. Never give our personal information, check the email address of the sender, and watch for grammatical and spelling mistakes. Avoid emails that try to instill an urgency for you to act.
  • Businesses should review and update their Business Continuity of Operations Plans to include backing up critical business data.
  • Ensure that your business has a current cyber-security policy for remote working, utilize VPN to connect work resources, test and utilize a collaboration tool, and do not store sensitive business information in an insecure environment.