Minnesota Delegation: Disaster Loans Available for Small Businesses and Other Organizations Affected by Flooding in 49 Counties

Oct 2, 2014 Issues: Financial Services

WASHINGTON, DC – U.S. Senators Amy Klobuchar and Al Franken and U.S. Representatives Collin Peterson, Betty McCollum, John Kline, Michele Bachmann, Keith Ellison, Tim Walz, Erik Paulsen, and Rick Nolan announced that Small Business Administration (SBA) Economic Injury Disaster Loans are now available to small businesses and other organizations affected by flooding in 49 counties. Last week, the USDA Farm Service Agency designated these counties as a natural disaster areas, making farmers and ranchers eligible for emergency loans to help recover and rebuild. The Economic Injury Disaster Loans are available to small businesses and other organizations that suffered financial losses as a result of the heavy precipitation and flooding.

Under the Small Business Administration’s Economic Injury Disaster Loan program, qualifying small businesses and private non-profit organizations can receive loans of up to $2 million. Eligibility is determined based on the size of the applicant, the type of activity, and its financial resources.

The following counties are eligible for Economic Injury Disaster Loans: Aitkin, Anoka, Beltrami, Benton, Blue Earth, Carlton, Carver, Cass, Chisago, Clearwater, Crow Wing, Dakota, Douglas, Grant, Hennepin, Isanti, Itasca, Kanabec, Koochiching, Lake of the Woods, Le Sueur, Marshall, McLeod, Meeker, Mille Lacs, Morrison, Nicollet, Otter Tail, Pennington, Pine, Polk, Pope, Ramsey, Red Lake, Rice, Roseau, Saint Louis, Scott, Sherburne, Sibley, Stearns, Stevens, Todd, Traverse, Wadena, Waseca, Washington, Wilkin and Wright.