Small Business
Disaster Loan Programs

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SBA Economic Injury Disaster Loan Program

Available to MN Small Businesses

Thanks to a prompt and collaborative partnership between the State of Minnesota and the SBA to address the challenging economic impact of Coronavirus, Minnesota small businesses are now eligible for the SBA Economic Injury Disaster Loan Program and can now apply online

SBA.GOV   Or SBA Minnesota

EIDL - Here is what you need to know

  • This program can provide low-interest loans of up to $2 million to small businesses and private non-profits
  • These loans may be used to pay fixed debts, payroll, accounts payable, and other bills
  • The current interest rate is 3.75% for small businesses. The non-profit rate is 2.75%.
  • These loans have long-term repayment options, up to a maximum of 30 years
  • Disaster loan payments are deferred for 11 months

EIDL - How to apply

Here’s a list of documents you’ll need to provide to complete this application:

Note: The SBA HIGHLY recommends you complete your application online, do not mail them in. However preparing these documents before you go to will streamline the process for you. 


Still need help? Call the SBA’s Disaster Customer Service Center at 800.659.2955 or email Individuals who are deaf or hard-of-hearing can call 800.877.8339.

Our 21st Century Banking Team is here to help!

We understand that getting your business operational is key to the future success of our communities. Please feel free to reach out to your lender with questions or if you need help along the way.

Our Lending Team


John Thwing - The SBA Guy

John Thwing



John Hicks

John Hicks



Rich Bales

Rich Bales



Jay Eull

Jay Eull



Gregg Klohn

Greg Klohn



Todd Klingl

Todd Klingl


Ham Lake

Ryan Sundeen

Ryan Sundeen



Paul Poncin

Paul Poncin



Blair Oklabzija

Blair Oklobzija



Isaac Sandberg

Isaac Sandberg


SBA is offering Loan Training for COVID-19 Related Economic Disruptions

This training covers program eligibility, use of proceeds, terms, filing requirements, and additional small business resources.  

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Sales Tax Payment Extension for Eligible Businesses

In line with the state’s continued response to COVID-19, the Minnesota Department of Revenue is granting a 30-day Sales and Use Tax grace period for businesses identified in Executive Order 20-04. During this time, the department will not assess penalties or interest. 


Identified businesses with a monthly Sales and Use Tax payment due March 20, 2020, have until April 20 to make that payment. These businesses should still file their return by March 20. At this time, this grace period for penalty and interest is only for monthly filers and only for the March 20 payment. Businesses can request additional relief from penalty and interest for reasonable cause after April 20. 

Tax Payments Deferred Until July 15

The Treasury Department and the IRS are extending the due date for Federal income tax payments due April 15, 2020, to July 15, 2020, for payments due of up to $10 million for corporations and up to $1 million for individuals – regardless of filing status – and other unincorporated entities. Associated interest, additions to tax, and penalties for late payment will also be suspended until July 15, 2020. More info is available on the US Department of the Treasury website.

What is not extended:

  • This does not apply to partnership and S-corporation returns that were due on March 16, 2020. Those needed to be filed or extended.
  • Form 941 (employment tax) is still due on April 30, 2020
  • W-2’s, 1099’s, 1095’s, etc: “No extension is provided in this notice for the filing of any Federal Information Return.”
  • Each state is making their own decision. The IRS urges taxpayers to check with their state tax agencies for those details.
  • Payment deadline extended to July 15, 2020 with no limitation on amount.

Which payments?

  • Form 1040 for 2019 balance due payments normally due on April 15, 2020 are now due on July 15, 2020. 
  • Form 1040 estimated tax payments for 2020 normally due on April 15, 2020 are now due on July 15, 2020.

This deferment applies to all taxpayers, including individuals, trusts and estates, corporations, and other non-corporate tax filers as well as those who pay self-employment tax. 

What is not extended:

  • Form 1040 estimated tax payment due on June 15, 2020. Those payments are still due on June 15, 2020.
  • No extension is provided in this notice for the payment or deposit of any other type of Federal tax.

More information can be found in the News Release and Notice 2020-18

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