Coronavirus Planning & Information :: Your Business

Below you will find all information, helpful links and resources.

Alternative Banking Options:

SBA Economic Injury Disaster Loans (EIDL)

Due to the impact of COVID-19, businesses and non-profits are eligible to apply for financial assistance via the SBA Economic Injury Disaster Loan (EIDL) program, which provides low interest loans of up to $2M. These funds provide the necessary working capital to help small businesses survive until normal operations resume after a disaster.

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Paycheck Protection Program 

The Paycheck Protection Program is part of the CARES stimulus package and is a federal loan program aimed at helping small businesses who have been severely impacted by COVID-19.  Businesses who received a Paycheck Protection Program loan may soon be entering the forgiveness stage, which requires applying for forgiveness and providing documentation of expenses.

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North Dakota COVID-19 Pace Recovery II (CPR II) Program 

The COVID-19 Pace Recovery II (CPR II) Program assists North Dakota businesses impacted by the COVID-19 pandemic by providing a grant to buy-down interest expense paid or accrued on eligible business debt from April 1, 2020, through September 30, 2020.

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Events 

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We’re here to help

Alerus is here to help support clients who may experience financial difficulties as a result of the coronavirus (COVID-19). Please contact us should you find yourself in need of assistance.

Thank you for your relationship and trust in Alerus. We remain committed to serving you and will adapt our business as needed to the changing environment.