Small Shakopee Businesses Can Apply For Coronavirus Relief Funds

Press release from the City of Shakopee:

July 20, 2020

Small businesses adversely impacted by COVID-19 are invited to apply for a one-time forgivable loan from the City of Shakopee’s Small Business Relief Fund.

The loan program will provide grants of up $15,000 to small businesses to be used for operating expenses, including rent or mortgage payments, utilities, payments to suppliers or other critical non-payroll business expenses (including expenses related to reopening) as approved by the fund administrator.

The Shakopee City Council allocated $200,00 from the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act funding to establish a small business relief program for Shakopee businesses affected by COVID-19.

Businesses must be a locally owned and operated for-profit business with a physical establishment in Shakopee. Additional criteria include:

• Must have been operating for at least 12 months prior to March 25, 2020
• Must be licensed, in good standing, and current on property taxes
• Must demonstrate a significant loss in revenue since March 25, 2020 (evidence of revenue loss related to the COVID-19 emergency)

Small businesses can apply via the city website July 20 through noon Friday, July 24, 2020. The city will notify approved applicants by email on or before July 31, 2020.

Apply: www.shakopeemn.gov/Home/Components/FormBuilder/FormBuilder/b65ed9272b004f5094c7e4fec1a18af4/603

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