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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.

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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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