Disaster loans available to private residents and businesses from SBA

Businesses and residents in north-central and central Minnesota are now eligible for low-interest disaster loans from the Small Business Administration.

The disaster declaration in Cass and five counties to the south is for those private groups impacted by severe storms and flooding on June 23-24.

The SBA will open a Disaster Loan Outreach Center Thursday in the City of Randall but it will permanently close on Aug. 11.

Loans up to $200,000 for real estate and $40,000 for personal property are available for residents.

For small private businesses, agricultural entities and nonprofits, economic injury disaster loans are available regardless if the business suffered any physical property damage.

The SBA declaration number for this area is #17537.

The filing deadline to return applications for physical property damage is Sept. 23, 2022.

The deadline to return economic injury applications is April 25, 2023.

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