SBA to offer low-interest disaster loans to help Minnesota businesses impacted by civil unrest

A Lake Street business lies in rubble in south Minneapolis. Photo: Richard Reeve/KSTP. A Lake Street business lies in rubble in south Minneapolis.

Ben Rodgers
Updated: August 18, 2020 01:49 PM
Created: August 18, 2020 01:43 PM

Tuesday, the Small Business Administration announced it will off low-interest disaster loans to Minnesota businesses and residents who were impacted by the civil unrest that followed after George Floyd was killed while in police custody.

A release from the SBA said the loans were made available in response to a July 13 letter from Minnesota Gov. Tim Walz that requested a disaster declaration. The declaration covers Hennepin County, as well as Anoka, Carver, Dakota, Ramsey, Scott Sherburne and Wright counties.


Walz again requests federal help to rebuild after unrest

SBA officials said businesses and private nonprofit organizations may borrow up to $2 million, while homeowners may request up to $200,000.

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