SBA’s Paycheck Protection Program

SBA Economic Injury Disaster Loan Program

Our state's small businesses are eligible for the SBA Economic Injury Disaster Loan Program and can apply for a loan online at SBA.gov/disaster.

  • 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.

Need help filling out the application? Access these step-by-step instructions

For an overview of the U.S. Small Business Administration Coronavirus relief options, click here.

Paycheck Protection Program – What Businesses and Nonprofits Need to Know

As part of our “Too Local To Fail” effort, we want to help Minnesota small businesses be ready to apply for these funds. Click here to see what small businesses need to know and click here to see what nonprofits need to know.

The Minneapolis Regional and Twin West Chambers have curated a list of our member lenders that may be able to assist with SBA loan applications. Follow this link to see the list.

For more information about the CARES Act and the Paycheck Protection Program, follow this link to the U.S. Department of the Treasury.

Info from SBA Partners and Other Agencies

Local Partner Info

Federal Program Info

The U.S. Department of Labor has resources to help workers and employers prepare for the COVID-19 virus, including use of Family Medical Leave.