On Tuesday, the federal Small Business Association announced federal loans designed to help small businesses, ag coops, and nonprofit organizations in Minnesota who suffered losses from this summer’s drought.
The federal Economic Injury Disaster Loans (EIDLs) are aimed primarily at Murray and Nobles counties, but are also available in the surrounding counties of Cottonwood, Jackson, Lyon, Pipestone, Redwood, and Rock.
EIDLs are available through the Small Business Administration (SBA), and can be used to pay fixed debts, payroll, and other bills that could have been paid if the drought hadn’t occurred.
These federal loans are intended help local businesses and farms deal with the fallout from the drought. The deadline for the Economic Injury Disaster Loans is next May 29.