Minnesota’s Small Businesses are launching an effort to get more people to shop local, an effort to combat the economic strain of ongoing federal immigration operations across the Twin Cities.
Advocates say the ongoing federal immigration operation is causing a severe economic downturn all across the metro, with Lake Street businesses alone losing an estimated $30 million a month.
In response, community organizers have launched the "Shop Local for Truth and Freedom Week."
"And we are relying on each other as a community to come out and support these businesses," says Lake Street Council business advisor Yusra Mohamud. "We are hearing that some businesses might not be open tomorrow or next week or in the next two weeks.
Businesses are now calling on state legislators and private investors to provide relief funds to stabilize commercial corridors that currently lack a federal safety net.
Since the operation began, many of the business owners say they are having trouble paying their bills as foot traffic is down, leading to closures across the metro.
Carl Swanson with the Minnesota CDFI Coalition says as a result, $700 million in small business and housing loans are at serious risk of a collapse as loan defaults start to pile up.
"Through the possibility of loan defaults of closures, we are looking at very real losses of tens if not hundreds of millions of dollars of this capital," Swanson adds. "This is something where there is not a safety net right now."
Visit Lake Street is advising anyone who does visit local businesses to prepare to knock, as many businesses have their doors locked, and also to check a business’s social media or website to see if they have updated hours.