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Government shutdown delays Minnesota businesses, home buyers

With one in five mortgages in Minnesota backed by government agencies, home buyers ineligible for conventional mortgages are stuck in limbo.

Posted: Jan 10, 2019 1:18 PM

MINNEAPOLIS (AP) — Minnesota executives, home buyers and small business owners are starting to see more delays following the first full week of business since the partial federal government shutdown began.

With one in five mortgages in Minnesota backed by government agencies, home buyers ineligible for conventional mortgages are stuck in limbo amid the standoff over President Donald Trump's demand for billions of dollars to fund a U.S.-Mexico border wall.

Lenders underwriting U.S. Department of Agriculture mortgages can't obtain any conditional commitments or guarantees, stalling a form of financing typically used in rural areas and small towns, the Star Tribune reported.

"It's a small percentage, but probably a big number that adversely affects rural America," said Keenan Raverty, former president of the Minnesota Mortgage Association and vice president of Twin Cities-based Bell Banks. "Even 100 deals in outstate Minnesota is pretty impactful."

Meanwhile, many small firms and entrepreneurs are putting off acquisitions and other deals while the federal Small Business Association remains closed.

"We have eight loans pending (in just one community-lending program) that are in limbo," said Gary Cunningham, chief executive of Metropolitan Economic Development Association. The Minneapolis-based association counsels and helps finance small minority-owned businesses.

Also stalled is a $4.3 billion acquisition by Minnesota's largest company, UnitedHealth Group, to expand its operation of medical clinics. The Minnetonka-based company is awaiting a review by the Federal Trade Commission to purchase DaVita Medical Group, a chain of clinics.

Kent Thiry, chief executive of Colorado-based DaVita Inc., said executives still hope to close the deal early this year.

Smaller health tech companies around the state are being held up by the Food and Drug Administration's delayed review and approval of new products.

Frank Jaskulke, of Minnesota-based trade group Medical Alley Association, said, "the medium- and long-term impact will be felt by public health as fewer health advancements come to market."

___

Information from: Star Tribune, http://www.startribune.com

Minnesota Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 40163

Reported Deaths: 1528
CountyConfirmedDeaths
Hennepin12867789
Ramsey5066230
Dakota252494
Stearns244819
Anoka2328111
Nobles16766
Olmsted119617
Washington119040
Mower9722
Rice8628
Scott8034
Clay59838
Kandiyohi5841
Blue Earth5352
Wright5055
Carver4331
Todd4022
Sherburne3405
Lyon3312
Freeborn3020
Watonwan2420
Steele2401
Benton2283
St. Louis20316
Nicollet18712
Martin1715
Cottonwood1380
Goodhue1378
Winona13315
Le Sueur1171
Pine1110
Crow Wing10812
Chisago1031
Otter Tail1021
McLeod960
Dodge930
Carlton890
Polk863
Unassigned8438
Chippewa791
Isanti780
Waseca730
Itasca6812
Douglas670
Murray670
Pipestone664
Meeker621
Morrison611
Faribault600
Becker570
Jackson570
Sibley562
Pennington530
Beltrami410
Brown392
Renville372
Mille Lacs342
Wabasha340
Rock310
Yellow Medicine310
Fillmore300
Houston290
Swift251
Grant220
Norman210
Redwood210
Wilkin213
Cass192
Roseau190
Big Stone170
Koochiching171
Kanabec161
Wadena160
Aitkin150
Marshall120
Pope120
Lincoln110
Clearwater100
Mahnomen101
Hubbard80
Stevens80
Lake60
Traverse60
Lac qui Parle40
Red Lake40
Kittson20
Cook10
Lake of the Woods00

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 33162

Reported Deaths: 740
CountyConfirmedDeaths
Polk6990182
Woodbury328243
Black Hawk239759
Buena Vista172711
Johnson13848
Linn134183
Dallas133031
Marshall106819
Scott92610
Dubuque83422
Story8254
Pottawattamie78012
Wapello71231
Muscatine68344
Crawford6793
Sioux4930
Tama47829
Wright3891
Louisa36313
Plymouth3365
Jasper33217
Warren3001
Dickinson2853
Webster2844
Washington2489
Cerro Gordo2231
Hamilton1931
Boone1601
Clay1431
Clarke1403
Allamakee1354
Clinton1211
Mahaska11817
Shelby1180
Poweshiek1088
Carroll1041
Pocahontas1041
Bremer1027
Franklin990
Des Moines952
Emmet920
Henry903
Hardin880
Cedar851
Cherokee811
Taylor810
Monona770
Marion750
Floyd742
Benton721
Guthrie724
Jones680
Sac650
Osceola640
Iowa621
Jefferson620
Buchanan611
Butler602
Humboldt591
Calhoun582
Hancock571
Harrison560
Delaware541
Fayette540
Lee542
Madison512
Monroe517
Jackson480
Lyon480
Clayton473
Mills460
Palo Alto460
Mitchell430
Winneshiek430
Davis421
Grundy420
Kossuth390
Howard370
Union370
Lucas324
Winnebago310
Chickasaw290
Greene290
Cass270
Ida230
Unassigned220
Appanoose213
Van Buren210
Worth210
Keokuk201
Page200
Adair160
Audubon161
Ringgold151
Decatur120
Montgomery112
Wayne100
Adams80
Fremont80
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