The Minnesota Department of Employment and Economic Development (DEED), in conjunction with Gov. Tim Walz's Small Business Assistance Executive Order 20-15, is creating an emergency loan program for small business owners in Minnesota.

According to a news release, the program will help businesses temporarily closed because of the coronavirus and Walz's previous executive orders.

There is $30 million from special revenue funds available for qualifying small businesses in loans between $2,500-$35,000. The loans will be 50% forgivable at a 0% interest rate, the release said.

For more information about the emergency loan program, email ELP@state.mn.us.

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