City of Mora COVID-19 Emergency Assistance Fund

The City of Mora Economic Development Authority (Mora EDA) is pleased to announce a temporary program to provide emergency assistance to commercial businesses affected by COVID-19. The COVID-19 Emergency Assistance Fund (EAF) will provide up to $80,000 in loans and $10,000 in grants to businesses located in city limits. The maximum loan amount per business is $4,000 at 0% interest for 24 months. Grants will be awarded at $500 per business. Businesses are eligible to apply for a loan or grant, but not both. Loans and grants will be reviewed and awarded on a first-come first-served basis and must be complete to be considered. The city will begin accepting applications on Wednesday, April 15, 2020.

The EAF was established in response to safety measures implemented to protect people during the COVID-19 pandemic, measures that have the potential to significantly impact small businesses. This program does not preclude businesses from applying for financial assistance from other sources. The Mora EDA encourages business owners to seek funding from local financial institutions, the State of Minnesota Department of Employment and Economic Development (DEED), and/or the U.S. Small Business Administration (SBA).

Click on the link below to access the EAF policy and application. For more information about the City of Mora COVID-19 Emergency Assistance Fund, contact Community Development Director Beth Thorp.

City of Mora COVID-19 Emergency Assistance Fund Policy and Application