March 28th Deadline for SBA Economic Injury Disaster Loans approaching

By Paul Vold kkin@rjbroadcasting.com (3/7/22)

(Minnesota) — The deadline is fastly approaching for the Small Business Administration Economic Injury Disaster Loans for Minnesota counties from July 20th, 2021 and continuing with the Application Filing Deadline for March 28th, 2022.

Economic Injury Disaster Loans allow working capital loans to help small businesses, small agricultural cooperatives, and small businesses engaged in agriculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.

The law authorizes loan terms up to a maximum of 30 years and the SBA will determine an appropriate installment payment based on the financial condition of each borrower, which in turn will determine the loan term.

Low Eligibility Restrictions, Refinancing, Insurance Requirements, and how to complete the SBA Loan Application can be found with this story here: