Residents and businesses in six southern Minnesota counties hit by heavy rains and flooding in June and July can now apply for low-interest loans through the U-S Small Business Administration. Spokesman Jack Camp says it’s a “really powerful tool” for people to finance their recovery:
“These loans are for up to 30 years, and for homeowners the interest rates are as low as 1.938 percent — that’s less than two percent. For businesses they’re as low as four percent.”
The S-B-A has opened a temporary office in Kasson to take loan applications and answer questions — or apply on-line at DisasterLoan.sba.gov.
Residents of the following counties are eligible: Dodge, Goodhue, Mower, Olmsted, Rice and Steele
The disaster loan outreach office in Kasson is open Saturdays 10am-2pm and weekdays through August 14th