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Klobuchar, Franken, Peterson, Walz: Disaster Loans Available for Small Businesses and Other Organizations Affected by Flooding in Rock, Murray,...

July 21, 2014



Klobuchar, Franken, Peterson, Walz: Disaster Loans Available for Small Businesses and Other Organizations Affected by Flooding in Rock, Murray, Nobles, and Pipestone Counties

WASHINGTON, July 21 -- Rep. Collin C. Peterson, D-Minn. (7th CD), issued the following news release:

U.S. Senators Amy Klobuchar and Al Franken and U.S. Representatives Collin Peterson and Tim Walz today announced that Small Business Administration (SBA) Economic Injury Disaster Loans are now available to small businesses and other organizations affected by flooding in Rock, Murray, Nobles, and Pipestone Counties. Last week, the USDA Farm Service Agency designated these counties as a natural disaster area, making farmers and ranchers eligible for emergency loans to help them recover and rebuild. The Economic Injury Disaster Loans are available to small businesses and other organizations that suffered financial losses as a result of the heavy precipitation and flooding.

"Torrential rains and severe flooding delivered a major blow to communities and businesses in southwest Minnesota and across the state," Klobuchar said. "These emergency loans will give an important boost to small businesses that suffered flood damage, and I'll keep working to ensure that our businesses and communities have the resources they need to fully recover."

"When severe weather and flooding struck Minnesota last month, I saw firsthand that rural communities in the southwest were hit very hard by the storms," Franken said. "I'm pleased that the SBA is taking this critical step to support small businesses with emergency loans, and I'm going to continue doing everything I can to help all Minnesotans who are still trying to recover."

"These emergency loans will provide support for local businesses and other organizations impacted by recent severe weather," Peterson said. "I will continue to advocate for relief to ensure that those impacted by conditions outside their control have the resources they need to recover."

"I am pleased these emergency loans have been made available to help our small businesses," Representative Walz said. "Just as emergency loans will help our farmers and ranchers recover, the loans provided by the SBA will help folks regain their financial footing. Going forward, I will continue to fight for our local businesses and communities as they continue to bounce back from the recent natural disasters."

Under the Small Business Administration's Economic Injury Disaster Loan program, qualifying small businesses and private non-profit organizations can receive loans of up to $2 million. Eligibility is determined based on the size of the applicant, the type of activity, and its financial resources.

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