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Covid-19 resources for small businesses

Our events will follow recommendations from the Minnesota Department of Health and executive orders released by Governor Walz. As new instructions are published, event details may change.

To find the most up-to-date event information please visit our
Calendar of Events.
For more information please contact the Chamber office at 320-251-2940.


financial resources for small businesses

  • Eligible Paycheck Protection Program expenses now deductible
    • WASHINGTON – The Treasury Department and the Internal Revenue Service issued guidance today allowing deductions for the payments of eligible expenses when such payments would result (or be expected to result) in the forgiveness of a loan (covered loan) under the Paycheck Protection Program (PPP).

      Today’s guidance, Revenue Ruling 2021-02, reflects changes to law contained in the COVID-related Tax Relief Act of 2020, enacted as part of the Consolidated Appropriations Act, 2021 (Act), Public Law 116-260, which was signed into law on Dec. 27, 2020.

      The COVID-related Tax Relief Act of 2020 amended the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to say that no deduction is denied, no tax attribute is reduced, and no basis increase is denied by reason of the exclusion from gross income of the forgiveness of an eligible recipient's covered loan. This change applies for taxable years ending aftern March 27, 2020.

      Revenue Ruling 2021-02 obsoletes Notice 2020-32 and Revenue Ruling 2020-27. This obsoleted guidance disallowed deductions for the payment of eligible expenses when the payments resulted (or could be expected to result) in forgiveness of a covered loan.

      For more information about this, the COVID-related Tax Relief Act of 2020, and other tax changes, visit
      IRS.gov.

  • New Federal Stimulus Legislation (Passed by Congress, effective 12/27/2020)
    • ​Provides 11 more weeks of benefits under both the:
      • Pandemic Emergency Unemployment Compensation (PEUC) program
      • Pandemic Unemployment Assistance (PUA) program
    • Provides $300/week supplemental payment to anyone receiving unemployment benefits
    • Creates new program called Mized Earner Unemployment Compensation (MEUC), providing $100/week supplement for self-umployed people/independent contractors
  • Small Business Relief Packages from the Minnesota Departments of Employment and Economic Development and Revenue
    1. COVID-19 Business Relief Payments (Aid for restaurants, bars, gyms and bowling centers)
    2. MN Convention Center Relief Grant Program (Applications available 1/5/2021)
    3. MN Movie Theater Relief Grant Program (Applications available 1/5/2021)
  • ​​Community First Loan 

  • Central Minnesota Emergency Relief and Recovery Fund from the Initiative Foundation


Keep your workplace and workers safe

Source: University of Minnesota Center for Infectious Disease Research and Policy
Link: http://www.cidrap.umn.edu/covid-19/information-employers
Includes topics:
  • Travel for employees
  • Workplace precautions, training and control measures
  • Alternative work arrangements
  • Cleaning the workspace of an employee who has been ill

Prepare your business for COVID-19 impacts

Source: Minnesota Chamber of Commerce
Link: https://www.mnchamber.com/blog/your-business-covid-19-ready
Includes topics:
  • Survey – What is your business doing?
  • Webinar – Is your business ready?
  • Other resource documents, including:
    • Keeping workplaces safe and healthy
    • Considerations for employers and employees
    • Understanding economic impacts
    • Resources for businesses

Small business guidance, loan, and disaster assistance

Source: U.S. Small Business Administration
Link: https://www.sba.gov/funding-programs/disaster-assistance
Link: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources
Link: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options?utm_medium=email&utm_source=govdelivery
Link: Guide to PPP Loan Forgiveness
Includes topics:
  • Planning for emergencies
  • Apply for small business loans and grants
  • SBA debt relief
  • Paycheck Protection Program

Unemployment, reduced hours, additional business assistance

Source: DEED (Minnesota Department of Employment and Economic Development
Link: https://mn.gov/deed/newscenter/covid/employers/
Includes topics:
  • Workplace health and safety
  • Reducing employee hours
  • Closing your business or laying off large numbers of employees
  • Small business assistance
  • Unemployment insurance for employers

COVID-19 and the American WOrkplace
Source: US Department of Labor
Link: https://www.dol.gov/agencies/whd/pandemic
Includes topics:
  • Families First Coronavirus Response Act: Questions and Answers
  • Families First Coronavirus Response Act: Employer Paid Leave Requirements
  • COVID-19 and the Fair Labor Standards Act: Questions and Answers
  • COVID-19 and the Family and Medical Leave Act: Questions and Answers

Coronavirus tax relief

  • Economic impact payments: What you need to know
  • Tax deadline changes
  • Tax credits for small and midsized businesses

OPEN For business


ADDITIONAL RESOURCES


Local healthcare updates & RESOURCES

CentraCare updates during COVID-19

RECENT EVENT WEBINARS



This page will be updated as new resources are available.