|The U.S. Small Business Administration (SBA) encourages businesses of all sizes, private nonprofit organizations, homeowners and renters to apply for a disaster loan before the Jan. 30, 2017 deadline. Anyone in the declared counties in Minnesota with damages caused by severe storms and flooding that occurred on Sept. 21 –24, 2016 should apply for the disaster recovery loan program.|
The disaster declaration covers the counties of Blue Earth, Freeborn, Hennepin, Le Sueur, Rice, Steele and Waseca in Minnesota which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Anoka, Brown, Carver, Dakota, Dodge, Faribault, Goodhue, Martin, Mower, Nicollet, Ramsey, Scott, Sherburne, Sibley, Watonwan and Wright in Minnesota; Winnebago and Worth counties in Iowa.
SBA disaster loans are available to businesses of all sizes, most private nonprofit organizations, homeowners and renters to cover uninsured losses from the disaster. Interest rates are as low as 4 percent for businesses, 2.625 percent for private nonprofit organizations, and 1.563 percent for homeowners and renters. Loan terms can be up to 30 years.
To be considered for all forms of disaster assistance, applicants should register online at www.DisasterAssistance.gov or download the FEMA mobile app. If the online or mobile access is unavailable, applicants should call the FEMA toll-free helpline at 800-621-3362. Those who use 711-Relay or Video Relay Services should call 800-621-3362.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to email@example.com.
Loan applications can be downloaded from www.sba.gov/disaster. Completed applications can be returned to a recovery center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to submit applications for physical property damage is Jan. 30, 2017. The deadline for economic injury applications is Aug. 29, 2017.
For more information about the SBA’s Disaster Loan Program, visit our website at www.sba.gov/disaster
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