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EDA PACKET 08.18.20
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EDA PACKET 08.18.20
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11/25/2020 4:12:59 PM
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11/25/2020 4:12:42 PM
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Commissions
Meeting Date
8/18/2020
Document Type
Agenda/Packets
Commission Name
EDA
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COVI D-19 SMALL BUSINESS RESOURCES <br />WASHINGTON <br />COUNTY <br />Community <br />VDevelopment <br />Agency <br />TO BUSINESS <br />Business Technical Assistance <br />Washington County has partnered with the Metropolitan Consortium of Community Developers (MCCD) to offer the Open to Business program. This program <br />provides free one-on-one assistance from MCCD's expert staff, customized to meet the specific needs of each entrepreneur. Open to Business will provide <br />prospective and existing entrepreneurs in Washington County with counseling with a business advisor. <br />Metropolitan Consortium of <br />Current and perspective entrepreneurs <br />Open to Business <br />Community Developers <br />Any resident or entrepreneur located in <br />Open to Business Website <br />Washington County <br />Business Advisor: Tyler Hilsabeck <br />Email: thilsabeck@mccdmn.org <br />Phone: (612) 789-8838 <br />Unemployment Insurance <br />• Summary of Program: The Shared Work program offers an alternative to layoffs for employers facing a temporary downturn in business. Administered by <br />DEED's Unemployment Insurance Division, the program allows employers to divide available hours of work among a group of employees instead of <br />implementing a full layoff. These employees may then receive partial unemployment insurance benefits while working reduced hours. The purpose of Shared <br />Work is to avoid a layoff, not to subsidize wages. <br />Shared Work <br />Department of Employment <br />Minnesota businesses <br />Program <br />g <br />and Economic Development <br />P <br />Why this might make sense for you: Shared Work can help employers avoid the difficulties that can o along with a layoff. If employees kee working <br />Y g Y pg g YP g <br />during a temporary slowdown, employers can more quickly gear up when business conditions improve. Learn more about the Shared Work Program on <br />DEED's Unemployment Insurance Division's website <br />Website: Minnesota DEED Shared Work Program <br />FAQ Coronavirus SBA Loan Questions <br />1. What loans are available to help small businesses during Coronavirus? <br />• The Economic Injury Disaster Loan from the Small Business Administration (SBA). <br />• The Paycheck Protection Loan (Part of the CARES Act). <br />2. How do I get these loans? <br />• Apply for the Economic Injury Disaster Loan directly from the SBA here. <br />• Paycheck Protection Loans are government -backed but will come from private banks. You should inquire at your local bank about these <br />released the loan application. You can see it . You will still need to apply for the loan at your local bank. This is just the application. <br />3. How much can I borrow? <br />oans. The Treasury Department has just <br />Updated April 22, 2020 <br />
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