The Department of Employment and Economic Development, through its Economic Development Division has provided funding to Heartland Lakes Development Commission to establish an economic revitalization program that will provide leveraged grants to support economic development and redevelopment projects in Park Rapids. The program will result in the revitalization of corridors and main streets that have an outsized impact on businesses and surrounding communities, expand the tax base of targeted communities, increase the creation and retention of jobs relative to the local economy and deliver a positive impact on diverse communities most severely harmed by the events of the last year.
Leveraged grants can be used by eligible recipients for the following:
Eligible project expenses do not include the purchase of real estate or business operations or business operating expenses, such as inventory, wages or working capital.
A leveraged grant can cover up to 30% of the total project cost and must be matched by an eligible recipient at 200% of the state’s portion of the grant. Matching funds may include but are not limited to insurance proceeds from an eligible recipient, loan proceeds, private grants, cash contributions, donations, and local government contributions.
Applications can be obtained HERE, directly from Heartland Lakes Development Commission by calling (218) 732-2256, or from one of the participating local lending institutions. Applications for the Main Street Economic Revitalization program will be accepted by Heartland Lakes Development Commission on a first come first serve basis until funds are depleted.
September 20, 2021 Press Release from DEED
The Minnesota Department of Employment and Economic Development (DEED) is now accepting applications for the Minnesota Main Street COVID Relief Grant program.
A total of $64,200,000 is available in grants for Minnesotan owned and operated businesses that can demonstrate financial hardship due to the COVID-19 pandemic
Businesses that are majority-owned by military veterans, women, and Black, Indigenous, and people of color individuals; employ 6 people or fewer; and/or did not receive previous assistance from other state relief programs will be prioritized in the selection process. Funding will be distributed in a 50/50 split between the Twin Cities metro area and Greater Minnesota.
Applicants that qualify and are selected will receive a grant amount between $10,000 and $25,000 based on the number of full-time equivalent (FTEs) employees on staff. To be eligible, businesses must operate in Minnesota and be majority owned by a resident of Minnesota. Additional eligibility requirements and application information can be found at DEED’s Main Street COVID Relief Grants Program page.
DEED hosted an informational webinar last Tuesday, September 14 to go over the application process and answer questions from small business owners. You can watch a recording of that webinar on DEED’s YouTube channel.
DEED will also be hosting another informational webinar today at 10:00 a.m. to answer more frequently asked questions regarding the application process.
If you have questions, you can email MSCRG.DEED@state.mn.us. We will also be keeping our Frequently Asked Questions updated as we get inquires. Additionally, you will be able to find translated program information on our website in Hmong, Somali, Spanish, and Vietnamese. You can also watch our How To Apply For The Minnesota Main Street COVID Relief Grant video in Hmong, Somali and Spanish.
Applications will be reviewed and awards will be disbursed and administered by qualified local and regionally based nonprofit organizations. Grant funds received by individual businesses shall be used for working capital to support payroll expenses, rent, mortgage payments, utility bills, and other similar expenses that occur or have occurred since March 12, 2020, in the regular course of business.
Applications will close on September 29 at 11:59 p.m. Afterward, grant applications will be selected for consideration through a computer-generated, randomized selection process.
Heartland Lakes Development Commission’s Hubbard County Business Assistance Program is
currently accepting applications in response to the continuing restrictions imposed at the Federal
and State levels due to the COVID – 19 pandemic. The program is funded by Hubbard County
through the State of Minnesota’s County Relief Funding Program.
The goals and objectives of this program are:
Applications will be accepted through 4:30 pm on Monday, February 15, 2021 by Heartland
Lakes Development Commission. Any business in need is strongly encouraged to apply
regardless of their perception of eligibility as the funding committee will consider all
completed applications any may make exceptions where warranted.
The maximum amount of assistance awarded is determined by the individual businesses’
economic injury/loss, availability of grant funds and total number of applicants. In no case will
the amount awarded exceed the documented amount of loss less other forgivable/grant funding
Applications are available at www.heartlandlakesdevelopment.org, and several locations
throughout the County or by contacting Mary Thompson, Executive Director of Heartland Lakes
Development Commission at (218) 368-7980 or email@example.com.
Executive Order 20-02, effective March 27, 2020 – Stay – At – Home
Beginning Friday, March 27th at 11:59 pm through Friday, April 10th at 5 pm all persons currently living within the State of Minnesota are ordered to stay at home.
Emergency Child Care Grant Program
The six Minnesota Initiative Foundations have created an emergency child care grant program to provide immediate financial support to licensed child care providers in Greater Minnesota in response to the COVID – 19 pandemic.
Guidance on Stay at Home Order
This site provides resources to help determine eligibility for critical sector worker exemptions and answer questions.
Information and Resources for Employers and Businesses
Information available from Department of Employment and Economic Development (DEED) on measures available to assist businesses through this unprecedented time.
Information and Resources for Workers
DEED’s Unemployment Insurance (UI) program assists workers who can’t work, have their hours reduced or lose their jobs as a result of the pandemic.
Office of Broadband Development
The Office of Broadband Development at DEED is gathering links and contact information for companies with service options related to COVID – 19 response if current service does not support the necessary bandwidth to work from home or conduct eLearning.
Shared Work is offered by the MN Unemployment Insurance (UI) Program to help employers avoid a layoff.
SBA COVID – 19 Small Business Guidance & Loan Resources
Tools and resources available from the Small Business Association for small businesses responding to the impact from the pandemic.
SBA Economic Injury Disaster Loan
The US Small Business Association is offering low interest Federal disaster loan for working capital to small businesses suffering substantial economic injury as a result of the pandemic.
COVID – 19 Business Toolkit from Minnesota Chamber of Commerce
A toolkit updated daily by the Minnesota Chamber of Commerce that provides information and resources related to the COVID – 19 pandemic.
NDC Small Businesses, Big Impact
The National Development Council as a loan program available for small businesses.
COVID – 19 Practical Guidance for Addressing the Evolving Challenges
Information and updates regarding the COVID – 19 pandemic and the implications for businesses and employees.
Senate Passes Massive Stimulus Program
Coronavirus Aid, Relief and Economic Security Act, “CARES Act” includes several provisions for salary support, cash rebates, loan to small businesses and relief for certain small businesses.
The Minnesota Department of Employment and Economic Development (DEED) is creating an emergency loan program to help Minnesota small business owners who need immediate assistance to meet their families’ basic needs during COVID-19 closures.
The loan program was created under the Small Business Assistance Executive Order 20-15 announced by Governor Tim Walz on March 23. The loan program is intended to help businesses temporarily closed under Executive Order 20-04, later clarified by Executive Order 20-08, which stopped onsite customer dining at restaurants and bars and closed an extensive list of other small businesses whose owners may not have adequate cash flow to withstand temporary closure.
“Over the last week, we’ve heard from many of Minnesota’s small businesses who are facing significant hardships because of the COVID-19 crisis,” said Governor Tim Walz. “Small businesses are the backbone of our communities, and now more than ever, we’re looking to creative solutions like DEED’s emergency loan program to help them weather these extraordinarily difficult times.”
“We know that this emergency loan program is just one tool businesses will need to leverage to stay afloat,” said DEED Commissioner Steve Grove. “It’s an important one because it will get cash flowing quickly to the small Minnesota businesses that need it most.”
Executive Order 20-15 directs DEED to create a Small Business Emergency Loan Program by making available $30 million from special revenue funds. These dollars will be used by DEED’s lender network to make loans of between $2,500 and $35,000 for qualifying small businesses. The loans will be 50% forgivable, and offered at a 0% interest rate. If other financing becomes available to small businesses that received an emergency loan, such as federal funding, the emergency loan must be repaid. These emergency loans will be made by an existing network of lenders DEED works with across the state. Depending on the size of the loans offered to businesses, DEED estimates this emergency loan program will provide needed resources to between 1,200 and 5,000 businesses. DEED expects loan applications will available later this week through our lender network. Minnesota small businesses should send questions about this emergency loan program to ELP@state.mn.us.
The executive order also allows local units of government or lending partners which have a revolving loan fund to use those funds to issue loans to retail and service providers for the next 90 days. DEED estimates that up to $28 million in capital could be accessible through local revolving loan funds and local governments through this action. Local partners will be looking at ways to deploy these resources to support their local businesses.
For the latest information from DEED for employers and businesses and workers, visit the DEED COVID-19 Information page on the DEED website.
DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and its services, visit the DEED website or follow DEED on Twitter.
The key to understanding causes and magnitudes of education and employment imbalances
A question of vital importance is whether post-secondary graduates are coming out of school with credentials that position them for employment success. From the students’ perspective, this is an important concern when tuition levels and student debt burdens are rising, but many find employment opportunities limited by having majored in something employers aren’t searching for. On the other side of that coin, employers are stymied in their hiring and expansion efforts when the available pool of candidates don’t have the educational background they seek. Program planners at post-secondary institutions trying to calibrate instructional offerings in the face of tightening budgets need to know where to put their school’s resources.