COVID Recovery Business Loan Program


The COVID Recovery Business Loan (CRBL) program provides loans up to $10,000 to eligible businesses to help offset the cost of expenditures related to the preparation of a COVID-19 Preparedness Plan. 

Loan Terms

  • Principal Maximum: $10,000 
  • Interest Rate: 0%
  • Term: 36 months
  • Payment: deferred
  • Loan applicants must provide paid invoices or receipts for approval prior to disbursement of funds

Eligible Businesses

Businesses that meet the following criteria are eligible to submit loan applications.

  • Subject to closure as identified in the Governor’s Executive Orders 20-04 and 20-08.
  • The business must have been in business and located in Oakdale before March 17, 2020.
  • The business must have employed no more than 75 full-time employees on March 17, 2020.
  • The business must have been registered with the Minnesota Secretary of State on March 17, 2020 and must be registered at the time of application.
  • The business has completed a COVID-19 Preparedness Plan.
  • The business must be in compliance with all ordinances, codes and licenses as well as current on any taxes, assessments, fines, fees, and any other monies due the City by the applicant on the subject property, or any other property owned by the applicant in the city.

Eligible Expenditures

The loan may only be used for expenses occurring between March 17, 2020 and April 1, 2021 that is related to the preparation of a COVID-19 Preparedness plan as outlined in the Governor’s Executive Order 20-56. This includes expenditures for the development and implementation of policies and procedures related to:

  • Workers working from home
  • Preventing sick workers from entering the work place
  • Social distancing
  • Worker hygiene and source control
  • Cleaning, disinfection, and ventilation protocols
  • Expense examples include, but are not limited to:
  • Building improvements and furnishings
  • Personnel protective equipment
  • Sanitizing supplies
  • Signage
  • Employee training
  • Transition to online sales
  • Printing & Advertising
  • Supplies needed to restart operations
  • Operating expenses except payroll and property taxes
  • Other related costs

Application Process

Applications will be accepted beginning May 27, 2020 through April 1, 2021. Loans will made based on available capital on a first come first served basis. Businesses will be required to provide information verifying their eligibility. 

To apply, please complete and submit the COVID Recovery Business Loan application or download a PDF application and return to Oakdale City Hall, Community Development, 1584 Hadley Avenue N., Oakdale, MN 55128.