Federal Loans Now Available for NW MN Businesses Impacted by Wildfires

Small businesses and private non-profit organizations hurt by the wildfires this past summer can recoup some of their losses with low-interest federal loans provided by the U.S. Small Business Administration. Monica Myles is the Public Affairs Specialist with SBA. 

The loans can be used by small business in Aitkin, Itasca, and Koochiching counties among others here in Northern Minnesota. The interest rates on the loans are 4 percent of slightly less for non-profits. Federal loans are now available for businesses and non-profits impacted by this summer’s wildfires in northern Minnesota. Monica Myles with the U.S. Small Business Administration says businesses can qualify for up to $2 million dollars in loans with interest rates of 4 percent or less. And as for payment: 

More information is available at sba.gov/disaster