SBA Physical Disaster Loan Deadline is Oct. 2 in Minnesota For Civil Unrest

SBA Physical Disaster Loan Deadline is Oct. 2 in Minnesota For Civil Unrest Main Photo

29 Sep 2020


Ramsey County, Small Business

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 Oct. 2 deadline. Anyone in the declared counties in Minnesota with damages caused by the civil unrest on May 27 through June 8, 2020 should apply for the disaster loan program.


The declaration covers Hennepin County and the adjacent counties of Anoka, Carver, Dakota, Ramsey, Scott, Sherburne and Wright in Minnesota.
In accordance with health precautions for the Coronavirus (COVID-19), the SBA will not establish a field presence to assist survivors. However, SBA will continue to provide first class 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/ and there are virtual customer support representatives available to assist applicants with completing the online application.

The VDLOC information:
Virtual Disaster Loan Outreach Center (VDLOC)
Open: Monday - Sunday (7 days/week)
Hours: 8 a.m. – 8 p.m. Eastern Time
FOCE-Help@sba.gov
Phone: (800) 659-2955


These services are only available for the Minnesota disaster declaration as a result of the civil unrest on May 27 through June 8, 2020, and not for COVID-19 related assistance.

Survivors should contact the Disaster Assistance Professionals at (800) 659-2955 to schedule an appointment for immediate one-on-one assistance in completing their applications. Requests for SBA disaster loan program information may be obtained by emailing FOCE-Help@sba.gov. The SBA will conduct extensive outreach to ensure that all impacted by the disaster are afforded the opportunity to seek assistance.

Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.

Disaster loans up to $200,000 are available to homeowners to repair or replace disaster damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace disaster damaged or destroyed personal property.

Interest rates are as low as 3 percent for businesses, 2.75 percent for private nonprofit organizations, and 1.25 percent for homeowners and renters, with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

Applicants may be eligible for a loan increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include enhanced security measures to help protect property and occupants from future damage caused by a similar disaster.

Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at https://DisasterLoanAssistance.sba.gov/.

Businesses and individuals may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing DisasterCustomerService@sba.gov. Loan applications can also be downloaded at www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The filing deadline to return applications for physical property damage is Oct. 2, 2020. The deadline to return economic injury applications is May 3, 2021.