Businesses and residents in declared disaster areas can now apply for low-interest disaster loans from the SBA. The declaration covers the following:
MORRISON COUNTY AND THE ADJACENT COUNTIES
Minnesota businesses and residents affected by the severe storms and flooding from June 23 to 24, 2022. The declaration covers Morrison County and the adjacent counties of Benton, Cass, Crow Wing, Mille Lacs, Stearns and Todd in Minnesota.
Applicants may be eligible for an Economic Injury Disaster Loan (EIDL) and/or Physical Damage Loan for business, home or personal property. Information about the loan programs can be found in the Disaster Loans - Fact Sheet.
Deadline to apply for Morrison county and the adjacent counties as follows:
- The filing deadline to return applications for EIDL is April 25, 2023.
- The filing deadline to return applications for physical property damage is Sept. 23, 2022.
How to Apply: Apply under SBA declaration # 17537 using the Electronic Loan Application (ELA) website.
To assist businesses and residents, Customer Service Representatives will be available at the SBA Disaster Loan Outreach Center (DLOC) located at, City of Randall Fire Hall, 535 Pacific Avenue, Randall, MN 56475. All visitors to the DLOC are encouraged to wear a face mask. The DLOC will close permanently on Thursday, Aug. 11, 2022 at 4 p.m.
SBA’s Customer Service Center can be reached at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services) or sending an email to DisasterCustomerService@sba.gov.
DOUGLAS COUNTY AND THE ADJACENT COUNTIES
Minnesota businesses and residents affected by severe thunderstorms and tornadoes from May 29 to May 30, 2022. The declaration covers Douglas County and the adjacent counties of Grant, Otter Tail, Pope, Stearns, Stevens and Todd in Minnesota.
Applicants may be eligible for an Economic Injury Disaster Loan (EIDL) and/or Physical Damage Loan for business, home or personal property. Information about the loan programs can be found in the Disaster Loan - Fact Sheet.
Deadline to apply for Douglas county and the adjacent counties as follows:
- The filing deadline to return applications for EIDL is April 25, 2023.
- The filing deadline to return applications for physical property damage is Sept. 23, 2022.
How to Apply: Apply under SBA declaration # 17534 using Electronic Loan Application (ELA) a secure SBA website.
To assist businesses and residents affected by the disaster, Customer Service Representatives will be available at the SBA Disaster Loan Outreach Center (DLOC) located at, Douglas County Emergency Management, 1501 Hawthorne Street, Alexandria, MN 56308. All visitors to the DLOC are encouraged to wear a face mask. The DLOC will close permanently on Thursday, Aug. 11, 2022 at 4 p.m.
SBA’s Customer Service Center can be reached at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services) or sending an email to DisasterCustomerService@sba.gov.
The U.S. Small Business Administration announced that certain Private Non-Profit organizations (PNPs) in Minnesota that do not provide critical services of a governmental nature may be eligible to apply for low-interest disaster loans. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.
The disaster declaration makes SBA assistance available in the following counties: Aitkin, Big Stone, Cass, Chippewa, Cottonwood, Douglas, Grant, Kandiyohi, Lac Qui Parle, Lincoln, Morrison, Nobles, Pope, Redwood, Renville, Stearns, Stevens, Swift, Todd, Traverse, Wadena, Wilkin and Yellow Medicine.
Disaster Loan Programs Available:
Physical Damage Loans: Up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The interest rate is 1.875 percent, with terms up to 30 years.
The filing deadline to submit applications for physical property damage is Sept. 6, 2022.
Economic Injury (EIDL) Loans
Economic Injury Disaster Loans (EIDL) to help meet working capital needs, such as ongoing operating expenses for PNP organizations. EIDL assistance is available regardless of whether the organization suffered any physical property damage.
The deadline to submit economic injury applications is April 10, 2023.
How to apply
PNP organizations are urged to contact their county’s Emergency Manager to provide information about their organization. The information will be submitted to FEMA to determine eligibility for a Public Assistance grant or whether the PNP should be referred to SBA for disaster loan assistance. Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at DisasterLoanAssistance.sba.gov/ela/s/ and should apply under SBA declaration # 17520.
Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services), or by sending an email to DisasterCustomerService@sba.gov. Loan applications can be downloaded from the SBA’s website at sba.gov/disaster.
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The U.S. Small Business Administration announced a new funding opportunity for eligible non-profit organizations, state and local government agencies, private sector firms, and institutions of higher learning to provide entrepreneurship training to service-disabled veterans. Submissions must be sent via grants.gov no later than 11:59 p.m. ET on August 18, 2022. Proposals submitted via other media will be rejected and will not be evaluated. Learn more. |
Government contracts are generally similar to commercial contracts. However, there are some key differences that you need to understand. Learn more.
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