The U.S. Small Business Administration is reminding eligible Private NonProfit organizations in Minnesota that the deadline to submit disaster loan applications for physical damages caused by severe storms, tornadoes, straight-line winds and flooding from June 15 through July 11 is approaching.
Nonprofits in Blue Earth, Cottonwood, Nicollet, Faribault, Sibley, and several other counties in southern Minnesota are eligible to apply.
The SBA says organizations that do not provide critical services of a governmental nature may qualify low-interest rate disaster loans. Those include things like homeless shelters, museums, libraries, and schools and colleges.
Economic Injury Disaster Loans may also be available to help meet working capital needs, regardless of whether the organization suffered any physical property damage.
Applications are available on the SBA’s website. The filing deadline to submit applications for physical property damage is Nov. 5, 2018. The deadline to submit economic injury applications is June 5 of next year.