State and regional administrators of the U.S. Small Business Administration told a conference call to the media this week that five million people across the country have applied for economic disaster loans. Information on if and when those loans will be forgiven is expected to be released within a few days, they said. Brian McDonald is Minnesota District Director for the SBA and he said there has been many outreach efforts to rural Minnesota, including connections with the Center for Rural Policy and Development.
“Recently we did a webinar with the Minnesota Department of Ag Commissioner Thom Peterson to the ag community. So that was something that we did to reach the rural and farm community specifically,” said McDonald. “And then we have an ongoing relationship with all 10 Congressional offices here in Minnesota and we’ve been doing a lot of Congressional Town Halls, specifically with Representative (Collin) Peterson.”
The SBA recently announced that in Round 2 of the Paycheck Protection Program, $2.2 billion from over 37,000 loans were approved in Minnesota between April 27 and May 1. Small businesses and small farm operations should contact the Small Business Administration for more information on emergency loans.