ST. PAUL, MN (KFGO) – Gov. Tim Walz says the Small Business Administration approved his request for disaster assistance for businesses damaged in the civil unrest after the death of George Floyd.
Nearly 1,500 Twin Cities businesses were damaged by vandalism, fire or looting in late May and the damage is estimated at more than $500-million.
The S-B-A Economic Injury Disaster Loan program will provide small businesses with working capital loans of up to $2-million. The Business Physical Disaster program helps businesses of all sizes with loans of up to two million to repair and replace damaged real estate, machinery and equipment and other assets.
Walz said he’s visited with business owners and community leaders and “to them rebuilding is about more than a storefront, it’s about maintaining the vibrancy and vitality of the community.”
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