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Date: July 31, 2008 For Immediate Release |
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Businesses in Seven Minnesota Counties Eligible for Flood-Disaster LoansSt. Paul – Businesses in seven Minnesota counties are eligible for low-interest federal loans for economic damages related to the flooding that occurred in Iowa, Wisconsin and Minnesota in early June 2008. Businesses in Faribault, Fillmore, Freeborn, Houston, Martin, Mower and Winona counties can apply for Economic Injury Disaster Loans from the U.S. Small Business Administration. The loans provide working capital of up to $2 million to small businesses, small agricultural cooperatives and most nonprofit groups that cannot meet financial obligations as a result of the disaster. The seven Minnesota counties are contiguous to parts of Iowa and Wisconsin that were hit the hardest by flooding that caused millions of dollars in damages following heavy rains that began on the weekend of June 7. While businesses in the seven Minnesota counties that are eligible for the Economic Injury Disaster Loans did not suffer major flood damage, they may have lost customers or had other business activity disrupted because of flooding in neighboring areas of Iowa and Wisconsin. The deadline for applying for the loans in Faribault, Fillmore, Freeborn, Martin and Mower counties is Feb. 27, 2009. The deadline in Houston and Winona counties is March 3, 2009. Loans and other funding are not available for individuals or personal property affected by the floods. Other details are available from the SBA Disaster Assistance Customer Service Center at (800) 659-2955, disastercustomerservice@sba.gov, or www.sba.gov/services/disasterassistance. Upon request, the information in this news release is available in an alternative format |
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