SBA Ready to accept disaster loan applications

The SBA is now ready to accept disaster loan applications from businesses in Minnesota.  The link to the website is here.

• Program provides low-interest loans of up to $2M to small businesses and private non-profits.
• These loans may be used to pay fixed debts, payroll, accounts payable and other bills. 
• The current interest rate is 3.75% for small businesses. The non-profit rate is 2.75%.
• These loans have long-term repayment options, up to a maximum of 30 years. 

Need help filling out the application? Access these step-by-step instructions

The SBA is hosting webinars twice each day to help small businesses learn about the SBA Disaster Recovery Program. Register here. The training will cover program eligibility, use of proceeds, terms, filing requirements, additional small business resources. After registering you will receive the Skype webinar log in information.

It can take up to 3-4 weeks after applying before you receive funds.  So apply early.