Mankato-Small businesses that have lost at least 50 percent of revenue due to COVID-19 may apply for a loan of up to $5,000 through the City of Mankato’s Sustaining Loan Program. Funds may be used for operating capital for lease/mortgage payments, property taxes, supply and inventory and utility bills (funds will first be applied to any past due utility bills).

Loans have:

  • Zero percent interest rate for a one-year deferral period.
  • Interest rate of two percent after the deferral period.
  • Maximum length of two years from the time deferral period ends.

Applications are due by June 1, 2020. To request a paper copy, please contact staff at 311 or 507-387-8600.