How is the Coronavirus Relief Fund (CRF) being funded?

The U.S. Department of Treasury, as authorized under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, established a $150 billion relief fund to aid states, local, and tribal governments with populations over 500,000 people in their efforts to respond to the nationwide public health emergency caused by the coronavirus pandemic and COVID-19 outbreak. Funding has been allocated from Treasury to the State of Minnesota, and, in turn, the City of Little Canada as pass-through funds. Based on eligibility, small businesses physically located within the City of Little Canada are eligible to apply for funding.

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1. How is the Coronavirus Relief Fund (CRF) being funded?
2. My small business does not have a physical location in the City of Little Canada, but the majority of the clients/customers Little Canada residents. Can we apply?
3. Are there limits on how the grant can be used?
4. Will this grant be considered taxable income?
5. How will awardees be selected to receive funding?