Small businesses coping with hardship after an employee is called up for military service could qualify for interest-free loans from Minnesota government.
The one-time loans range from $5,000 to $20,000. Eligible businesses must prove economic harm when one of their workers is activated from a military reservist status.
The loan program is being administered by the Department of Employment and Economic Affairs. It applies to businesses with 20 or fewer full-time workers or less than $1 million in annual gross revenue.
The loans last for four-and-a-half years and don't require payment for the first third of the loan term.