top of page
Search

Small Business Disaster Loans Now Available in MN


Today, the U.S. Small Business Administration (SBA) and the Minnesota Department of Employment and Economic Development (DEED) announced that COVID-19 disaster loans are now available for Minnesota small businesses. According to DEED: 

  • This program can provide low-interest loans of up to $2 million to small businesses and private nonprofits.

  • These loans can go toward working capital to meet needs including payroll, accounts payable, and fixed debt payments that can’t be paid due to the COVID-19 pandemic.

  • The current interest rate is 3.75% for small businesses. The nonprofit rate is 2.75%.

  • These loans have long-term repayment options, up to a maximum of 30 years.

SBA is holding webinars this weekend to provide more information on the loans.

Saturday, March 21, 1 p.m.;Register

Sunday, March 22, 11 a.m.;Register

en Espanol Saturday, March 21, 12 p.m.;Register



Need further assistance?

Visit the Minnesota Chamber's COVID-19 Business Toolkit

651.292.4650

400 Robert Street North, Suite 1500

St. Paul, MN 55101

4 views0 comments
bottom of page