This Friday, March 15, Small Business Administration (SBA) officials will host a webinar for small business owners interested in applying for Economic Injury Disaster Loans (EIDL) in response to winter’s lack of precipitation.
Last week, Governor Walz urged Minnesota businesses hurt by this winter’s historic weather to apply for SBA loans, available because of ongoing federal drought declarations affecting 81 Minnesota counties.
The loans are designed to help businesses get through emergency situations that have impacted their economic well-being. Under the EIDL program, businesses can borrow up to $2 million to cover their actual losses. Businesses pay no interest on the loan for the first year and a maximum rate of 4% for the rest of the loan period.
The SBA’s disaster assistance page provides business owners with information about eligibility, how to find an application, and the deadlines for their county.
SBA’s information session will provide updated information on locating the disaster declaration, applying for assistance, and using loan proceeds.
Details:
What: Join the U.S. Small Business Administration Office of Disaster Recovery and Resilience and the Minnesota District Office for an information session on Governor Walz’s recent declaration. This webinar will provide updated information on how to locate the declaration, apply for assistance, and use loan proceeds.
When: Friday, March 15, 10:00 A.M. – 11:00 A.M. CDT
Where: Online event. Register here.
Learn more and register at the Minnesota Disaster Declaration – Lack of Precipitation (Drought) Information Session.