The city of Edina has awarded 11 small Edina businesses a $9,000 forgivable loan.
The businesses selected to receive the loans are:
• Beaujo’s Wine Café & Bistro
• Bluebird Boutique
• Clothes Mentor
• European Wax Center
• The Glow Lounge
• Harriet & Alice
• Jett Beauty
• Nakamori Japanese Restaurant
• The Optical at 50th & France
• Snap Fitness
“It’s disheartening to see the dark streets and empty parking lots of the once bustling businesses in Edina. It’s evident that they are struggling and doing everything in their power to hold on,” Edina Chamber of Commerce President Lori Syverson said. “Small business is important in our community and these funds are an important piece in allowing our small businesses to weather the storm.”
The city received 40 applications that were ranked based on the eligibility criteria, need and impact to the community. Preference was given to businesses that operate as a storefront and are reliant on face-to-face customer transactions. The loss of these types of businesses would be especially damaging to Edina’s commercial districts.
The loans must be used for operational expenses and will be forgiven in two years provided that the business is still operational in Edina and retains at least 75% of the employee count.