The legislation, SF 4535, would create a Minnesota business recovery loan program for businesses that lost revenue during increased immigration enforcement in 2025. The bill still requires approval from the Minnesota House, which is split 67-67 between Republicans and Democrats. To qualify, businesses would need to show a revenue loss of more than 30 percent between Dec. 1, 2025, and Feb. 28, 2026. The loans would cover no interest and last no more than 60 months, and borrowers can apply to have up to 60 percent of the loan forgiven after making 24 consecutive on-time payments.