City Of Oakdale Publishes Coronavirus Resources For Businesses

Press release from the City of Oakdale:

March 23, 2020

The following information and resources are available for business and workers directly affected by the Coronavirus pandemic.

Business and Employee Resources/Programs

The following programs and resources are available to business and employees who have been affected by the coronavirus pandemic.

Small Business Administration Disaster Loan Program - Now Available in Minnesota!

The SBA is providing up to $2 million in Disaster Assistance loans for small businesses which can be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid due to COVID-19 impacts. These low-interest loans can have a term up to 30-years, determined on a case-by-case basis. If you are interested in learning more about this program, please contact the SBA Disaster Assistance customer service center at 1(800)877-8339 or disastercustomerservice@sba.gov. Learn more about the process for Disaster Loans.

Minnesota DEED Rapid Response

Employers who are planning a closure or major layoffs as a result of the coronavirus pandemic can get help through the Minnesota Department of Employment and Economic Development’s Rapid Response program. Rapid Response teams will discuss your business needs with you, help avert layoffs if possible, and provide services to assist workers facing job losses.

MN DEED Shared Work Program

Employers experiencing a slowdown in their business or service as a result of the coronavirus impact on the economy may apply for the Unemployment Insurance Shared Work program. The program allows employers to seek alternatives to layoffs - retaining their trained employees by reducing their hours and wages that can be partially offset with UI benefits. Workers of employers who are approved to participate in the Shared Work program receive the percentage of their weekly UI benefit amount based on the percentage of hours and wages reduced, not to exceed 60 percent.

Unemployment Insurance (UI)

The Unemployment Insurance (UI) program assists workers who cannot work, have their hours reduced or lose their job as a result of the pandemic. The UI program is prepared and ready to assist these workers. To find out more or to apply for benefits, visit the UI website.

Sales Tax Grace Period

Restaurants, bars and other hospitality businesses impacted by the temporary closure order have a 30-day grace period in paying sales and use tax. During this time the Minnesota department of Revenue will not assess penalties or interest. This means that affected businesses with a monthly Sales and Use Tax payment due March 20, 2020 will have until April 20 to make that payment. These customers should still file their return by March 20. Find out more at the Minnesota Department of Revenue website.

Center for Disease Control Guidance

The Center for Disease Control has released interim guidance for businesses and employers as they plan, prepare and respond to coronavirus impacts. Find out more at the CDC website.

This press release was produced by the City of Oakdale. The views expressed here are the author’s own.