It is our goal to help facilitate connections and help you find the best resource to assist your needs. Below are a few resources to help.
State COVID-19 Impact Survey
The North Dakota Department of Commerce has launched a survey to better understand how the Coronavirus pandemic is impacting businesses across our the State. By tracking this information, they hope the agency and partner organizations can identify additional resources we may be able to leverage to support North Dakota businesses during this challenging time. This survey will ask about your experiences since March 13, 2020 (when Governor Burgum declared a State of Emergency in response to the pandemic) and within the next 30 days. They plan to reissue this survey again in the near future to identify trends in business impact over time. Your input is important and is essential in helping Commerce respond to business needs.
Coronavirus Aid, Relief, and Economic Security Act (CARES)
On March 27th, President Trump signed this unprecedented $2 trillion emergency spending bill into law, providing critical economic assistance to United States citizens and businesses impacted by COVID-19. The North Dakota Department of Commerce has provided a high-level summary of the CARES Act with an overview of business support programs, paycheck provisions for workers, and information on unemployment insurance changes.
Economic Injury Disaster Loan Program
Administered by the Small Business Administration, this is one of the quickest responses to aid businesses in the face of COVID-19. As soon as North Dakota was deemed a federal disaster zone, this immediately made available working capital loans at 3.75% to help businesses cover immediate shortfalls. A major advantage of this program is the affordability of the loan as it can be amortized over a 30-year period. SBA is recommending completing applications outside of the 9-5 week day hours, as business hours have resulted in slower processing times for the website.
For more information, view the Disaster Loan Assistance Page. Additionally, the ND Small Business Development Centers have been designated technical assistance centers in this process. To contact them, you can find more information on the ND SBDC website.
Job Service North Dakota is available to assist with any questions, concerns, help with unemployment insurance claims. They can help transitioning employees navigate unemployment claims.
Local Office Facebook: https://www.facebook.com/jobservicendgrandforks/
The State has released a document featuring FAQs about unemployment policy. This document could see immediate changes should the CARES Act be finalized.
Local Partners Who Can Assist You
These organizations focus on business advocacy and are eager to help guide you to the appropriate resources for your business. Please reach out, we're here to help!
Grand Forks Economic Development Corporation has compiled comprehensive resources on financial resources for businesses.
Keith Lund, Executive Director, 701-746-2720.