Federal loans to help businesses during the coronavirus shutdown aren’t easy to navigate — but charitable funds are easier to get.
The iconic Minneapolis music venue First Avenue has been closed for over a month amid the coronavirus pandemic, but CEO Dayna Frank says she has never been busier — mostly gathering paperwork to apply for the federally guaranteed loans that small businesses qualify for under the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act. “It’s a crazy feeling to be so busy without any shows or revenue,” says Frank.
These loans, alongside over four dozen relief funds that professionals and creators can apply for from organizations like the Recording Academy’s MusiCares, are holding parts of the
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