Upcoming events

Switch to Calendar View

• Deed Announces Small Business Loan Guarantee Program

  • Start
    30 Mar 2020
  •  
    3:00 PM
  • End
    11 Apr 2020
  •  
    11:30 PM
  • Location
    Deed Announces Small Guarantee Program

  Register

  

  For Immediate Release

  Lender or Business Questions: sblgp@state.mn.us   Media Questions: Rita Beatty rita.beatty@state.mn.us March 30, 2020 Media Resources Previous Announcements

  Will help Minnesota lenders provide capital to small businesses throughout the state affected by COVID-19 St. Paul – The Minnesota Department of Employment and Economic Development (DEED) is announcing the Minnesota Small Business Loan Guarantee Program, which was approved by the Minnesota Legislature last week.  This temporary program, established in response to impacts of COVID-19, provides another option for financing to help small businesses weather this difficult time.  DEED estimates that this $10 million will guarantee $20 million to $25 million in loans for Minnesota small businesses. “DEED’s loan guarantee initiative is another example of how Minnesota leaders are working together to ensure we’re doing all we can to help businesses impacted by the COVID-19 crisis,” said Governor Tim Walz. “These loan guarantees  help Minnesota’s small businesses access the capital they need to keep operating during this difficult time.” “We created this loan guarantee program because we know many small businesses across Minnesota need help and that existing emergency loan programs may not meet the needs of every business,” said DEED Commissioner Steve Grove.  “The Minnesota Small Business Loan Guarantee Program is part of a slate of emergency small business assistance options DEED is implementing with bipartisan support from the state legislature.” DEED is not the lender, but it will work with lenders throughout the state to use the loan guarantees to support small business loans. These loan guarantees will facilitate loans for a variety of purposes and can be subordinate to other financing. Allowable loan uses must be exclusively in Minnesota and include machinery or equipment purchases, maintenance, or repair; expenses related to moving into or within Minnesota; and working capital when the working capital is secured by fixed assets when possible. The loan guarantees can only leverage funds for Minnesota businesses with fewer than the equivalent of 250 employees, which includes the total of all employees at a parent company and at any additional locations. The program will provide an 80% guarantee up to a maximum of $200,000, therefore the maximum loan amount in the loan guarantee program would be $250,000. The program will be open for up to 12 months from the declaration of the peacetime emergency under Executive Order 20-01 on March 13. All loans will be made by lenders enrolled in the Minnesota Small Business Loan Guarantee Program. No loans will come directly from DEED. Eligible lenders include banks or other commercial lenders,  public entities, or private nonprofit economic development organizations whose headquarters are located in Minnesota. DEED is now accepting applications from lenders who would like to participate in the program at the lender tab on the Small business Loan Guarantee Program page of the DEED website. If your business is seeking funding, please business tab on the same page at the end of the week of March 30 to obtain contact information for enrolled lenders as it becomes available. Each lender will utilize their own established application and underwriting processes for loans. Please discuss the requirements with the lender that you choose. Visit the COVID-19 Information for Employers and Businesses page on the DEED website  for more resources related to business assistance, Unemployment Insurance and FAQs. DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more information about the agency and its services visit the DEED website or follow DEED on Twitter. Upon request, this information can be made available in alternate formats for people with disabilities by contacting the DEED Communications Office at 651-259-7161.

  
  

  Show details
• New Guide on the MN Deed Website

  • Start
    1 Apr 2020
  •  
    11:30 AM
  • End
    30 Apr 2020
  •  
    11:30 PM

  Register

  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.

  DEED Developments Blog

  Subscribe to receive more information from DEED.

  
  

  Show details
• Let's Talk Business

  • When
    8 Apr 2020
  •  
    7:00 AM
  • Location
    Moorhead Fryn' Pan

  Register

  "ASK A TROOPER" 

  Sgt. Jesse Grabow of the Minnesota State Patrol.

  
  

  
  

  
  

  Show details
• MBA 560 Connect

  • When
    23 Apr 2020
  •  
    4:00 PM - 6:00 PM
  • Location
    Moorhead American Legion

  Register

  
  

  MBA 560 Connect

  Thursday, April 23rd

  Moorhead American Legion

  4 pm to 6 pm

  Enjoy Wine Tasting and Free Appetizers

  

  
  

  
  

  Show details
• Golf Tournament Early Bird Registration

  • When
    21 May 2020
  •  
    11:30 AM
  • Location
    Meadows Golf Course

  Register

  

  MBA Golf Tournament "EARLY BIRD" Registration

  Team Sponsor -Team of 4  includes 2 golf carts, 4 green fees, 4 meal tickets and a Hole Sponsor.

  Register EARLY and Save!

  Before April 15, 2020  $500 per team.

  After April 15, 2020  $550 per team.

  The Meadows

  Registration 11:30 am

  Tee Off 1 pm

  Let's Par Tee!
  

  Show details
• Moorhead Proud 565600H & AAH 4th of July Celebration

  • When
    4 Jul 2020
  •  
    6:00 PM - 11:30 PM
  • Location
    MSUM Nemzek

  Register

  

  Sponsorship Opportunity at the  

  BIGGEST EVENT OF THE YEAR!

  2020 Moorhead Proud 5656OOH & AAH Sponsors:

  "BIG BOOM" Sponsors

                 

                 

  "ROCKET'S RED GLARE" Sponsors

                                               

  
  

  Show details