Deadline for SBA Disaster loans in Minnesota set for June 5

Published 6:10 am Tuesday, May 7, 2019

The U.S. Small Business Administration is reminding private nonprofit organizations  in Minnesota of the June 5 deadline to submit Economic Injury Disaster Loan applications for damages caused by severe storms, tornadoes, straight-line winds and flooding on June 15 through July 11, 2018.

Specific private nonprofit organizations that do not provide critical services of a governmental nature may be eligible to apply for low-interest rate disaster loans. Examples of these organizations include, but are not limited to, food kitches, homeless shelters, museums, libraries, community centers, schools and colleges.

Private nonprofit organizations in the following counties are eligible to apply: Aitkin, Beltrami, Blue Earth, Brown, Carlton, Cass, Clearwater, Cottonwood, Faribault, Itasca, Jackson, Koochiching, Lake, Lyon, Martin, Murray, Nicollet, Nobles, Pine, Pipestone, Polk, Redwood, Renville, Rock, St. Louis, Sibley, and Watonwan Counties, and tribal governments of the Leech Lake Band of Ojibwe, Red Lake Nation and White Earth Nation.

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The SBA offers Economic Injury Disaster Loans to help eligible non-critical PNP organizations meet their working capital needs such as ongoing operating expenses. This assistance is available regardless of whether the organization suffered any physical property damage. Loan amounts can be up to $2 million with an interest rate of 2.5 percent and terms up to 30 years. The SBA sets loan amounts and terms based on each applicant’s financial condition. To be considered for this assistance, PNPs need to apply by the deadline.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at The deadline to return economic injury applications is June 5.