May 18, 2020 - Greater Mankato

18 May Paycheck Protection Program Forgiveness Application

Posted at 12:35h in Advocacy by Greater Mankato Growth 0 Comments

The Small Business Administration (SBA) has released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application.The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). SBA will also soon issue regulations and guidance to further assist borrowers as they complete their applications, and to provide lenders with guidance on their responsibilities.The form and instructions include several measures to reduce compliance burdens and simplify the process for borrowers, including:

18 May Mankato Sustaining Loan Program Open for Application

Posted at 09:25h in Advocacy, Business Development by Greater Mankato Growth 0 Comments

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The City of Mankato has created a sustaining loan program to assist small businesses in Mankato. This loan is for Mankato businesses with 50 or fewer employees who have had a revenue decrease of 50% of more due to the COVID-19 pandemic. Eligible business owners...