The SBA has just made available low-interest disaster loans for Minnesota businesses, non-profits and residents who were affected by civil unrest on May 27 through June 8, 2020. If you are located in Hennepin County, or the adjacent counties of Anoka, Carver, Dakota, Ramsey, Scott, Sherburne, and Wright, you may be eligible to apply.
Three Types of SBA Disaster Loans Available
1. Physical Disaster Loans – to repair or replace disaster-damaged property owned by the business. Businesses of any size are eligible. Private, non-profit organizations such as charities, churches, private universities, etc., are also eligible.
2. Economic Injury Disaster Loans – working capital to help small businesses, and non-profits meet their financial obligations that cannot be met as a direct result of the disaster.
3. Home Disaster Loans – for homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles.
Know These Two Deadlines
1. The filing deadline to return applications for physical property damage is October 2, 2020.
2. The deadline to return economic injury applications is May 3, 2021.
For More Information on the Disaster Relief Options:
Click the button below, and you will be redirected to the SBA Newsroom for the latest information on the program, guidance on how to apply, fact sheets and other resources.
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