Stauber Announces Loans for Small Businesses Are Now Available Through Paycheck Protection Program

HERMANTOWN, MN – Today, Congressman Pete Stauber (MN-08) announced that Minnesota's small businesses impacted by coronavirus are now able to apply for loans under the Paycheck Protection Program. The loans provided by the Paycheck Protection Program can be forgiven if used for payroll, mortgage, rent, and utilities. This program was created by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which Stauber voted for last Friday.

Of this announcement, Congressman Stauber stated, "Over the course of a few short weeks, the coronavirus pandemic has forced many of Minnesota's small businesses to shut their doors. Our small businesses are the engine of our economy and must be assisted during this crisis, so I am happy to announce that small business owners can now apply for these critical loans starting today. The Paycheck Protection Program will go a long way in helping Minnesota's small businesses stay afloat and help workers keep their jobs. I urge impacted businesses to contact their lender to apply."

The United States Treasury Department recently released the following information on the program for both borrowers and lenders:

• A top-line overview of the program
• Lender information
• Borrower information
• Borrower Application

Congressman Stauber is a small business owner and Member of the House Small Business Committee.

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