Deadline Approaching For SBA Disaster Loans for SE MN

Disaster loans are still available for those in Dodge, Goodhue, Mower, Olmsted, Rice and Steele Counties. These loans are available for businesses, private nonprofit organizations, homeowners and renters who suffered damage caused by severe weather and flooding from June 27 through July 7, 2019. The deadline to apply is September 30.

Interest rates are as low as 4% for businesses, 2.75% for private nonprofit organizations and 1.938% for homeowners and renters with terms up to 30 years. Homeowners can apply for up to $200,000 to repair or replace disaster damaged real estate. Homeowners and renters may apply for up to $40,000 to repair or replace damaged personal property including automobiles.

You may apply and learn more at the SBA website. You may also call 800-659-2955.

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