Please see below for information about the Minneapolis & St. Paul loan programs related to the COVID-19 outbreak that are available to certain businesses. For your convenience, we have broken down both emergency assistance plans.
What you need to know about
the Minneapolis emergency assistance
(Please check the city website for any changes they may make after the publication of this email)
  • Application for assistance will be available mid-April - please continue to monitor the City of Minneapolis website for further updates
  • Includes $2.2 million in forgivable and no-interest loans - click here to learn more about the Minneapolis Gap Funds for small businesses 
  • Loans of either $5,000 or $10,000 
  • Are available to qualified businesses with 20 or fewer employees as well as self-employed workers 
  • Annual revenue is $1 million or less  
  • The city will not consider the immigration status of business owners when awarding loans. 
  • The loans are directed at businesses located an Opportunity Zone, Green Zone, Promise Zone or area of concentrated poverty 
What you need to know about
the St. Paul emergency assistance
(Please check the city website for any changes they may make after the publication of this email)
  • For your convenience, we have included a link to the application - please click here to begin the online application process
  • Application process will be open from now until April 19 at 5 pm – click here to learn more 
  • Aid will be in form of a $7,500 grants 
  • Grant can be applied to rent or mortgage payments, employee health benefits, payroll or other costs 
  • Gross revenues of $2 million or less 
  • Business must have operated for at least three months in the city of St. Paul 
  • Can demonstrate a significant pandemic impact 
Upcoming Webinar
-- Navigating Through the COVID-19 Relief Options --
If you have questions or are looking for guidance in regard to the various stimulus packages available to business owners, our experts will be hosting a live webinar on Friday, April 10 at 10:00 am CST. During this webinar we will help you sort through and understand the various stimulus packages so you can make informed
decisions impacting your organization and employees.   

Navigating Through the COVID-19 Relief Options 
Friday, April 10, 2020 | 10:00 am - 11:00 am CST 
In this webinar, we will cover:  

  • Overview of Stimulus Packages: What you should be thinking about   
  • Case studies on the following COVID-19 relief options:  
  • Employer Retention Credit (ERC)  
  • Payroll Tax Deferral (PTD)  
  • Paycheck Protection Program (PPP) vs. Economic Injury Disaster Loan (EIDL)  
  • Families First Coronavirus Response Act (FFCRA)  
  • Questions & Answers  

Please note: This webinar will NOT cover the Minneapolis and St. Paul Emergency Assistance plans discussed in this communication. Discussion will focus on the stimulus packages noted above.

This webinar is designed for:  
Business owners with 500 or less employees who are looking for guidance and clarity around the COVID-19 relief options.  

Abdo, Eick & Meyers
www.aemcpas.com

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