REGIONAL- Homeowners, renters, business owners, nonprofits, and faith-based organizations impacted by summer flooding now have a temporary option in International Falls to consult in person with a Small Business Administration (SBA) representative about loan assistance programs.
An SBA Disaster Loan Outreach Center with five SBA staff has been set up at the Voyageurs National Park Headquarters at 360 Hwy. 11 East in International Falls, according to park superintendent Bob DeGross.
SBA representatives will be available at the outreach center to review loan options and conditions and help people with their applications. The outreach center is open weekdays from 8 a.m.-5 p.m. through Thursday, Sept. 22, when it will close permanently. Representatives will also be available at the center 10 a.m.-2 p.m. on Saturday, Sept. 17
Counties whose residents are eligible for loans to cover uncompensated disaster-caused damages include St. Louis, Koochiching, Itasca, Beltrami, and Lake of the Woods.
Low-interest loans covering business physical disaster, economic injury disaster, or home disaster are available for qualified individuals and entities. Applicants must have a credit history acceptable to SBA, demonstrate the ability to repay the loans, and provide collateral for physical loss loans and economic injury loans in excess of $25,000. SBA does not decline loans for lack of collateral but requires a pledge of what is available.
More information about the outreach center’s services can be obtained by contacting Courtney Smith at 202-945-7510 or courtney.smith@sba.gov.
An online portal for more detailed information about loan options and to submit applications is available at https://disasterloanassistance.sba.gov/ela/s/.