Program helps businesses with workers in military

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The Minnesota Department of Employment and Economic Development (DEED) has launched a new program to help businesses offset financial hardships because of the temporary loss of an employee to military service.

The Minnesota Military Reservist Economic Injury Loan Program will provide one-time, interest-free loans of $5,000 to $20,000 to small businesses that can demonstrate economic harm because an essential worker was called up for active duty in the military reserves.

To be eligible for the program, businesses must have either 20 or fewer full-time workers or less than $1 million in annual gross revenue. Businesses specializing in technical or professional services are eligible if they have less than $2.5 million in annual gross revenue.

The essential employee must have been called to military service for 180 days or more.

Businesses seeking a loan should complete an application form, which is available online at http://wwwdeed.state.mn.us/bizdev/MnMilitaryREILP_Intro.htm.

For questions about the program, contact Jeff Nelson at jeff.m.nelson

@state.mn.us, (651) 259-7523.

Tags: minnesota department of employment and economic development, news, military, deed, veterans