No Snow? SBA Hosts Economic Injury Disaster Loan Webinar

UNDATED (WJON News) - The Small Business Administration will host a webinar to bring business owners up to speed on Economic Injury Disaster Loans made available after this winter’s lack of precipitation.

Last week, Governor Walz urged Minnesota businesses hurt by this winter’s lack of snow to apply for the SBA loans. A federal drought declaration has been issued in 81 Minnesota counties.

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Through the Economic Injury Disaster Loans, businesses that have experienced loss due to the dry weather can borrow up to $2 million to cover their actual losses.

Businesses will pay no interest in the first year of the loan, and a maximum rate of 4% interest for the remainder of the loan term.

The webinar will cover eligibility, application procedures, and more information about the loan program.

The webinar is Friday, March 15th, at 10:00 am. The program is free, but registration is required.

Find more information on the SBA’s disaster assistance page here.

Register for the webinar

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