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Government Shutdown Delays Minnesota Businesses, Home Buyers

Government Shutdown Delays Minnesota Businesses, Home Buyers

Created: January 10, 2019 03:11 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.

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The Star Tribune reports that the Mortgage Bankers Association of America says one in five mortgages in Minnesota are backed by government agencies. Home buyers ineligible for a conventional mortgage are stuck in limbo amid the congressional standoff over President Donald Trump's demand for billions of dollars to fund a U.S.-Mexico border wall.

Many small firms and entrepreneurs are putting off acquisitions and other deals while the federal Small Business Association is shut down.

Also stalled is a $4.3 billion acquisition by Minnesota's largest company, UnitedHealth Group. The company is awaiting a review by the Federal Trade Commission to purchase DaVita Medical Group.

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Information from: Star Tribune

Copyright 2019 The Associated Press. All rights reserved.

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