Business Updates & Resources
At the March 23 meeting, City Council declared a peacetime emergency in regard to the COVID-19 pandemic. While this official action will impact City operations in some ways, the City plans to maintain open channels of communication with our business community during these challenging times.
Any changes to city policies will be reassessed at or near the end dates. Extensions to changes will be communicated via the Business Connection newsletter.
If you have questions about business services provided by the city or the updates below, please reach out the Paul Bolin, Assistant Executive Director, by email or phone at 763-572-3591, or Scott Hickok, Community Development Director, by email or phone at 763-572-3590.
Stay up-to-date on business-related news from the City of Fridley by subscribing to the Fridley Business Connection e-newsletter.
Xcel Energy Assistance
Xcel Energy is committed to helping businesses get back on their feet after being affected by the COVID-19 pandemic or civil unrest, and a new program coming soon will help provide some relief to businesses that were hard hit.
Small businesses that saw an electric load decrease of 25% or more as a direct result of the pandemic or civil unrest may qualify for a 25% discount on the base energy and demand charges on their Xcel Energy electric bill from Jan. 1 through Aug. 31, 2021.
To find out more and apply for the discount, businesses can contact their dedicated Xcel Energy account manager or fill out the interest form at xcelenergy.com/MNPandemicRecovery.
Small Business Administration (SBA)
Governor Walz has successfully lobbied for an Economic Injury Disaster Loan declaration from the SBA. As a result, Minnesota businesses are now able to apply for assistance online.
Highlights of the program include:
- Low-interest loans of up to $2 million to small businesses and private non-profits
- Loans can go toward working capital to meet needs including payroll, accounts payable, and fixed debt payments that can’t be paid due to the COVID-19 pandemic.
- The current interest rate is 3.75 percent for small businesses. The non-profit rate is 2.75 percent.
- These loans have long-term repayment options, up to a maximum of 30 years.
Anoka County Business and Nonprofit Relief Program Grants
Anoka County has approved a third application period for its Business and Nonprofit Relief grant program, which offers aid to local business and nonprofits that have been impacted by COVID-19.
Grants of up to $10,000 will be awarded to qualifying organizations. This program is funded by the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Anoka County Regional Economic Development (ACRED)
ACRED has been working diligently to provide local businesses with an index of resources that may be useful during this time of crisis. A growing list of resources can be found on their website.
If you have questions about these resources, please contact Jacquel Hajder, Economic Development Specialist, by email.
Minnesota Chamber COVID-19 Resources for Businesses
The Minnesota Chamber of Commerce has provided a toolkit of resources and information for businesses in response to the COVID-19 outbreak. Resources are updated daily as new information becomes available. Some of the resources include:
- Webinar: COVID-19 Resources for Your Business
- Considerations for employers, employees
- Keeping workplaces safe and healthy
The Minneosta Chamber also has an online survey to take input from businesses about what they are doing in response to COVID-19 to better provide resources for all Minnesota businesses.
US Chamber COVID-19 Resources for Businesses
The US Chamber of Commerce has additional resources for businesses to protect their workforce from coronavirus while ensuring continuity of operations. Resources include:
- Workplace tips (PDF)
- Interactive Workplace Flyer Builder
- Help for small businesses
- Communications toolkit
- CDC Guidance for Businesses
The US Chamber of Commerce also proposed three ideas to support businesses and workers, and to migitate job losses during this time. Learn about what the chamber asked of legislation.