Small Business Administration loans come to Northwest Minnesota
The U.S. Small Business Administration is accepting Economic Injury Disaster Loans (EIDL) for some Northwest Minnesota counties, in response to summer rain and flooding.
The loans cover damage and loss incurred for the period from June 7 to Aug. 1, when excessive rain hit the area. The EIDl loans are available to Northwest Minnesota small businesses, nonprofits farmers and other producers in Kittson, Lake of the Woods, Marshall and Roseau counties.
“Small businesses across the country are facing incredible challenges due to the coronavirus pandemic,” said Sen. Amy Klobuchar, D-Minn., in a press release. “Some of our small businesses in Beltrami, Kittson, Lake of the Woods, Marshall and Roseau counties have also been hit hard by the excessive rain and flooding this summer. These emergency loans to affected businesses will provide much-needed relief and help support the local economy in northern Minnesota.”
EIDL loans can be applied for online at DisasterLoan.sba.gov . Those applying for a loan need to apply under SBA declaration No. 16783, to differentiate it from SBA COVID loans. Loan applications and information can be found at http://sba.gov/disaster , or by sending an email to DisasterCustomerService@sba.gov.