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Applications being accepted for COVID-19 business assistance

Heartland Lakes Development Commission is accepting applications for the Hubbard County COVID-19 Business Assistance Program, which provides emergency financial assistance for businesses that are experiencing financial hardships due to pandemic-related restrictions.

The program is funded through participation agreements with local governments within the county that received Coronavirus Aid, Relief and Economic Security Act (CARES) Act monies.

According to a new release, the goals of the program are to ensure that this assistance will be beneficial to the business, facilitate business survival and enhance the retention of jobs in the county.

In order to be eligible for the funding, a business must be able to demonstrate that they were directly and adversely affected by COVID-19 by documenting at least a 30 percent reduction in revenues as calculated by monthly sales from the period March 1 through June 30, 2020 compared to the prior year sales for the same time period.

In addition, the business must have a physical commercial location in Hubbard County, be registered with the Minnesota Secretary of State, be able to demonstrate financial viability and be current on all financial obligations as of March 1, 2020.

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The maximum amount of assistance available is $20,000. The award will be determined by the actual economic injury to the business, financial need and availability of grant funds.

Applications may be submitted through the online portal at www.heartlandlakesdevelopment.com or by completing an application form. Applications are available at several locations throughout the County or by contacting Mary Thompson, Executive Director of Heartland Lakes Development Commission at (218) 368-7980 or mthompson@hrdc.org. The deadline for submitting applications is Friday, Aug. 21.

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