SBA DISASTER LOAN ASSISTANCE FOR CIVIL UNREST DAMAGES
APPLE VALLEY CHAMBER NOTE: The following program which was forwarded to us by Apple Valley’s Mayor Mary is something most of you may not qualify for since it is for CIVIL UNREST DAMAGE (both physical and / or closure). However many of you have other locations in the Twin Cities and we want to make you aware of this program. The future we hope stays calm but in the event of future civil unrest at your business, the deadline is next May 2021 to apply.
SBA Disaster Assistance Due To Civil Unrest
In response to a request by Governor Walz, SBA Administrator Jovita Carranza issued a disaster declaration, making low-interest loans available to cover uninsured or underinsured losses related to the civil unrest in and around Hennepin County between May 27th & June 8th. In addition to Hennepin County, the declaration covers the seven adjacent counties of Anoka, Carver, Dakota, Ramsey, Scott, Sherburne, and Wright.
Anyone affected by these events – homeowners or renters, businesses and nonprofit organizations – is eligible to apply. Loans can cover physical damage for individuals and businesses affected, and economic injury that businesses suffered because of the disaster. Interest rates can be as low as 1.25% for homeowners and renters, 2.75% for nonprofit organizations, and 3% for businesses. Repayment terms can extend as long as 30 years.
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