Resources for Businesses
Overview of Resources
The following resources are available for businesses affected by natural disasters:
- Small Business Development Centers
Small Business Development Centers (SBDCs) provide counseling to small businesses on a variety of business needs. In the wake of a disaster, the SBDCs will work with small businesses to help them tap into SBA Disaster Loans and Economic Injury Loans by assisting them with the required paperwork and procedures. Contact a Small Business Development Center near you to learn more.
- Minnesota Investment Fund
The Minnesota Investment Fund provides grants to local units of government who provide loans to assist businesses for building renovation, remodeling, equipment, and necessary working capital. Qualified businesses and nonprofit entities can receive flexible loan terms that may be subordinate to existing debt. Local units of government will assist in developing specific criteria based on community rebuilding priorities and objectives. Special legislative funding must be approved prior to MIF funds being available for a disaster. Any business loans follow locally developed guidelines and are awarded based on third-party damage estimates. More information on eligibility and the application process is available at the Minnesota Investment Fund section of our website.
- Other Business Finance Programs
DEED also offers a variety of other business loan programs that are designed to assist businesses meeting specific eligibility or located in targeted areas of the state. View a full list of business finance programs available through DEED. Please contact the business finance office at 651-259-7430 or toll-free at 800-657-3858 to determine if your business qualifies for any of these programs.