MN Small Business Emergency Loans for Restaurants, Breweries and Other Establishments

Nick Swedberg

Following Executive Order 20-15, the Minnesota Department of Employment and Economic Development (DEED) has established a loan program to assist small businesses directly and adversely affected and whose industry is named in Executive Orders 20-04 and 20-08 following the COVID-19 pandemic.  This includes restaurants, breweries, bars, recreational or entertainment facilities, and similar establishments.  View the complete list and details here. Small businesses are a vital part of Minnesota’s economy and this program will provide a source of working capital to help businesses sustain operations during this challenging time.

Loans will:

  • Range from $2,500 to $35,000 and will be based on the firm’s economic injury and the financial need
  • Be interest free
  • Be paid back monthly over five (5) years and the first payment will be deferred six (6) months
  • Partial forgiveness may be available
  • Be provided to only Minnesota-based businesses

Businesses should apply directly through a certified lender.

A list of lenders and additional materials are available on the DEED website.   Nonprofits are not eligible for this program.

NOTE:  The program is still being developed and loans will be available soon.

Contact your Boyum Barenscheer professional for assistance.


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