Disaster loans for those affected by civil unrest
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.
- 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.
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 https://disasterloanassistance.sba.gov/. Virtual Customer Support Representatives are available to assist applicants with completing the online application as well as answer questions about the SBA program. The VDLOC information is as follows:
Virtual Disaster Loan Outreach Center (VDLOC)
Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email email@example.com 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.
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