Federal loans are now available to help small businesses in seven southwest Minnesota counties (Cottonwood, Lyon, Murray, Nobles, Pipestone, Redwood and Rock) hit with heavy rains and flooding from June 17th thru July 3rd. Jay MacKenna with the Small Business Administration says the loans provide working capital “to help a small business continue operations during a time after a disaster has occurred, until they are able to recover and get back to their normal level of operations.”
MacKenna says the disaster that hit farmers also affected farm implement dealers, feed-and-grain wholesalers, and even restaurants and car dealers. “They’re not making the sales that they normally would have, had the farmer not suffered this disaster — so they’re not earning the revenues that they usually do, and they need assistance,” he says.
“Economic Injury Disaster Loans” are available to small businesses, small ag co-ops and private non-profits. Apply on-line at Disasterloan.sba.gov. For more info, call the Small Business Administration’s Customer Service Center at 800-659-2955.