Help for Small Businesses

From the SBA to SCORE, we’ve compiled a list of resources and options to help your business during the pandemic.

Economic Injury Disaster Loan (EIDL) Program

Please note: As of 4/16/20, the SBA is not able to accept any new EIDL loan applications at this time. They will continue to process existing applications in the order in which they were received.

Thanks to a concerted effort by the state of Minnesota and the Small Business Administration (SBA) to contain the economic impact of Coronavirus, the state’s small businesses are now eligible for the SBA Economic Injury Disaster Loan (EIDL) Program and can apply for a loan on the SBA website at

  • 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. 
  • These loans are only intended as working capital loans utilized to assist with impact caused by the coronavirus emergency efforts.
  • Loan applications will be evaluated by SBA loan officers. Criteria includes:
    • Credit history acceptable to the SBA
    • Repayment abilities
    • Eligibility: business must be headquartered in a declared state and suffered working capital losses due to the declared disaster (not a general downturn in business due to the economy or other reasons).
  • Need help filling out the application? Access these step-by-step instructions.

On March 27, 2020, President Trump signed into law the CARES Act, which provided additional assistance for small business owners and non-profits, including the opportunity to get up to a $10,000 Advance on an Economic Injury Disaster Loan (EIDL). This Advance may be available even if your EIDL application was declined or is still pending, and will be forgiven.

If you wish to apply for the Advance on your EIDL, please visit as soon as possible to fill out a new, streamlined application. In order to qualify for the Advance, you need to submit this new application even if you previously submitted an EIDL application. Applying for the Advance will not impact the status or slow your existing application.

Loan Training

Join the SBA to learn more about the Economic Injury Disaster Loan program. These trainings will cover program eligibility, use of proceeds, terms, filing requirements, and additional small business resources. After registering, you will receive the Skype webinar log in information.

The SBA will be conducting trainings twice a day until demand is met. Spanish language training is also available. Visit for the schedule.

Payroll Protection Program

Please note: As of 4/16/20, the SBA is not able to accept any new PPP loan applications at this time. They will continue to process existing applications in the order in which they were received.

The Payroll Protection Program provides loans that cover up to eight weeks of average monthly payroll plus 25%.


  • maximum loan amount is $10 million with a fixed 1% interest rate and maturity of two years. 
  • Eligible recipients may qualify for a loan determined by eight weeks of prior average payroll. Payroll costs include salary, commissions, tips; certain employee benefits including sick leave and health care premiums, and state and local taxes.
  • There is no collateral required, no SBA fees, no personal guarantees, and no credit elsewhere test.
  • Loan payments will be deferred for six months.
  • SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
  • The program will be available through June 30.
  • Business owners can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating.  Find a Minnesota PPP lender here.

The following entities affected by Coronavirus (COVID-19) may be eligible for the Payroll Protection Program:

  • Any small business concern that meets SBA’s size standards (either the industry based sized standard or the alternative size standard)
  • Any business, 501(c)(3) non-profit organization, 501(c)(19) veterans organization, or Tribal business concern (sec. 31(b)(2)(C) of the Small Business Act) with the greater of:
    • 500 employees, or
    • That meets the SBA industry size standard if more than 500
  • Any business with a NAICS Code that begins with 72 (Accommodations and Food Services) that has more than one physical location and employs less than 500 per location
  • Sole proprietors, independent contractors, and self-employed persons

Find PPP program details, FAQ’s, guidance for faith based organizations, and more, as well as other SBA relief programs at

SCORE Blog Posts & Webinars

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

Additional Resources

SBA partners and sister agencies are ready to help. This is by no means an all-inclusive list, but it should give you a good starting point to get the help you need to deal with the crisis at hand.

Local Partner Info

Federal Program Info

Stay Updated

For more on SBA programs for the coronavirus, please visit

To make sure you get additional information as it becomes available, visit

The SBA will also be posting information on Twitter (@SBA_Minnesota) as it becomes available. Join them there.

Still need help? Call the SBA’s Disaster Customer Service Center at
800-659-2955 or email Individuals who are deaf or hard-of-hearing can call 800-877-8339.