Funded in part through a Cooperative Agreement with the U.S. Small Business Administration, Minnesota Department of Employment and Economic Development and regional support partners.  All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the program sponsors.  Programs are open to the public on a nondiscriminatory basis.  Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance.

Thanks to a concerted effort by the state of Minnesota and the SBA to contain the economic impact of Coronavirus, the state's small businesses are now eligible for the SBA Economic Injury Disaster Loan Program and can apply for a loan on their website at SBA.gov/disaster.

This program can provide low-interest loans of up to $2 million to small businesses and private non-profits.These loans may be used to pay fixed debts, payroll, accounts payable and other bills. 

The current interest rate is 3.75% for small businesses. The non-profit rate is 2.75%.These loans have long-term repayment options, up to a maximum of 30 years. 

Need help filling out the application? The Southwest MN SBDC is available to assist you.

Please email or call the SBDC:  SBDC@smsu.edu or 507-537-7386

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