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We offer a broad range of services to help you secure a sound financial future. You've worked hard to get where you are. You deserve a firm that works hard for you.

The CARES Act (Conronavirus Aid, Relief, and Economic Security Act) Business Funding Resources

  • SBA Economic Injury Disaster Loans (EIDLS)
    • Application is done directly with the SBA. https://covid19relief.sba.gov/#/
    • Loans of up to $2 million are available to businesses affected by the COVID-19 crisis.
    • Maximum interest rates are 3.75% for businesses and 2.75% for non-profits with maturities of up to 30 years.
    • No collateral required for loans of $25,000 or less.
    • Emergency advances up to $10,000 are available while your application is being processed. These are disbursed within three days of your application submission, and do not need to be repaid even if your application is denied.
    • Additional information available at https://www.sba.gov/funding-programs/disaster-assistance

  • Paycheck Protection Program
    • Application is done through traditional lenders, not directly with the SBA.
    • The final rules for this program have not yet been finalized by the SBA as of today. Check with your banker for updates.
    • Eligible recipients may qualify for a loan up to $10 million determined by 8 weeks of prior average payroll plus an additional 25% of that amount.
    • If you maintain your workforce, SBA will forgive the portion of the loan proceeds that are used to cover the first 8 weeks of payroll and certain other expenses following loan origination.
    • Additional information is available at https://www.sba.gov/funding-programs/loans/paycheck-protection-program

  • SBA Express Bridge Loans
    • Businesses with an established relationship with an SBA Express lender can borrow up to $25,000 while awaiting other long-term disaster relief financing.
    • These loans are processed faster than other SBA loans, making cash available sooner to cover costs.
    • Repaid with other disaster relief financing when received. If no other financing is granted, note maturities extend for up to seven years.

  • Minnesota Shared Work Program
    • The MN Unemployment Insurance program offers an option to reduce hours for employees based on need while supplementing their income with MN UI funds.
    • Coverage available for employers current on their UI tax obligations employing permanent full or part-time employees.
    • Eligible employees must have been employed for as least one year.
    • Owner/officers can be included if they have elected optional UI coverage.
    • Additional information available at https://www.uimn.org/employers/alternative-layoff/index.jsp

  • Minnesota Emergency Loan Program
    • Small Minnesota-based businesses in select sectors may qualify for loans ranging from $2,500 – $35,000 at a zero rate of interest. These loans mature over 5 years with initial payments deferred for six months.
    • Eligible businesses include, but are not limited to:
      • Restaurants, coffeehouses, cafes, and food courts
      • Bars, taverns, breweries, pubs, and similar
      • Theaters, museums, and performance venues
      • Gyms, fitness centers, and similar exercise facilities
      • Salons, spas, massage clinics, and other cosmetology services providers
    • Applicants must not be able to qualify for standards loans through other financial institutions.
    • Applicants must be able to provide collateral or personal guarantees covering at least 20% of the loan.
    • Applicants must have current or historical financial statements available.
    • Additional information available at https://mn.gov/deed/business/financing-business/deed-programs/peacetime/

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