The Minnesota Department of Employment and Economic Development reports that there are at least 500,000 small businesses (which have fewer than 500 employees) and self-employed entrepreneurs in Minnesota. According to 2016 data, this is responsible for 52 percent of private jobs overall.
MPR reported that 46,000 small businesses in Minnesota received funds during the first wave of Payroll Protection Program loans. Businesses with accountants and lawyers on hand were more easily able to quickly get applications ready. As Minnesota Women’s Press was informed, in a recent rejection response to a March loan application, the quick $10,000 advance option to a federal Economic Injury Disaster Loan program is only open to agricultural businesses now.
Coronavirus is affecting most of the small businesses that have been supporting Minnesota Women’s Press for 35 years. We are grateful for advertisers that are able to continue supporting the magazine during this difficult time. Our hope is that we will be able to return to many of our 500 distribution sites in July. Please keep the chain of mutual support going by engaging with small businesses that support our ability to provide this digital-only June issue.
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