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7 | Page <br /> <br />Eligible Applicants <br /> <br /> All eligible business categories must be referenced in Governor Walz’s Executive Orders <br />(EO 20-04 and EO 20-08). <br /> Must have a physical, commercial location, whether owned or leased, that is located in city <br />limits of Elk River, MN. <br /> Must be registered with the Minnesota Secretary of State. <br /> Must be current with Sherburne County property taxes. <br /> <br />Application Requirements <br /> <br /> The "COVID-19 Small Business Emergency Microloan Program" application must be <br />completed in its entirety by the applicant and submitted to:** <br />City of Elk River <br />13065 Orono Parkway <br />Elk River, MN 55330 <br />Electronic submissions are also accepted to aothoudt@elkrivermn.gov <br /> <br /> All loans will be subject to the EDA’s COVID-19 Small Business Emergency Microloan <br />Program.** <br /> Applications will be considered on by the Joint Finance Committee and acted on by the <br />EDA.** <br /> The most recent federal tax return filed by the business indicating gross receipts of sales. <br /> Income statements and balance sheets for the past year or current within 90 days, if the <br />business has been in business less than one year. <br /> Proof of ownership or signed lease.** <br /> Proof of submittal, acceptance, approval and/or denial of SBA and DEED loan applications <br />(not absolutely required). <br /> A W-9 form (with signature).** <br /> Other supporting information requested from staff to review eligibility.** <br /> If funds are awarded, a brief report to the EDA within two months after receiving funds, <br />specifying how the funds were used and providing evidence in the form of paid invoices, <br />statements or similar documentation.** <br /> <br />**Only needed for property tax relief <br /> <br />Applicant Acknowledgement: <br /> The applicant shall hold the EDA, its officers, consultants, attorneys, and agents harmless <br />from any and all claims arising from or in connection with the COVID-19 Small Business <br />Emergency Microloan Program or its application, including but not limited to, any legal or <br />actual violations of any state or federal laws. <br /> The applicant recognizes and agrees that the EDA retains absolute authority and discretion <br />to decide whether or not to accept or deny any particular application, and that all <br />expenditures, obligations, costs, fees, or liabilities incurred by the Applicant in connection <br />with the application are incurred by the applicant at its sole risk and expense.