SBA Provides Recovery Help for Minnesota Storms

By Scout Nelson

The U.S. Small Business Administration (SBA) has announced the availability of low interest federal disaster loans for Minnesota businesses, private nonprofits, and residents impacted by the severe storms and high winds that occurred on June 21, 2025. The SBA issued this disaster declaration following a request from Governor Tim Walz on September 30, 2025.

The declaration includes the counties of Beltrami, Cass, Clearwater, Hubbard, Itasca, Koochiching, Lake of the Woods, Marshall, Pennington, and Roseau. These areas are eligible for both Physical Disaster Loans and Economic Injury Disaster Loans (EIDLs) to help repair damage and support recovery efforts.

Businesses and private nonprofits may borrow up to $2 million to repair or replace damaged real estate, machinery, inventory, and equipment. Homeowners can apply for up to $500,000 to repair or replace their primary residence, while renters and homeowners can borrow up to $100,000 for personal property such as cars, furniture, and appliances.

Applicants may also qualify for an additional 20% loan increase for mitigation efforts like wind-resistant structures, reinforced garage doors, and safe rooms to help prevent future damage.

“When disasters strike, SBA’s Disaster Loan Outreach Centers play a vital role in helping small businesses and their communities recover,” said Chris Stallings, associate administrator of the SBA’s Office of Disaster Recovery and Resilience. “At these centers, SBA specialists assist business owners and residents with disaster loan applications and provide information on the full range of recovery programs available.”

Interest rates are as low as 4% for small businesses, 3.625% for nonprofits, and 2.813% for homeowners and renters, with repayment terms of up to 30 years. Payments are deferred for the first 12 months after the loan is issued.

SBA customer service representatives will be available at the Disaster Loan Outreach Center in Beltrami County beginning October 4, 2025, to assist applicants. The filing deadline for physical property damage applications is December 1, 2025, and the deadline for economic injury applications is July 2, 2026.

Applications can be submitted online at sba.gov/disaster, or by calling (800) 659-2955 for more information.

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