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
- 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.
- 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.
- Home Disaster Loans - for homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles.
Read the full news release for more information. There's also a fact sheet and flier available with additional information.
SBA will provide customer service and conduct outreach virtually with webinars, skype calls, phone assistance, and step-by-step application assistance. To this end, SBA has opened a Virtual Disaster Loan Outreach Center (VDLOC) to help survivors apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at FOCE-Help@sba.gov
Phone for Individuals & Businesses: 571-422-6871 and 571-422-6078
Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email firstname.lastname@example.org for more information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
- The filing deadline to return applications for physical property damage is October 2, 2020.
- The deadline to return economic injury applications is May 3, 2021.