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Following a delegation letter earlier this week, the U.S. Small Business Administration (SBA) offers low-interest federal disaster loans to small businesses across Minnesota

WASHINGTON – Today, U.S. Senators Amy Klobuchar and Tina Smith, and Representatives Jim Hagedorn (MN-01), Angie Craig (MN-02), Dean Phillips (MN-03), Betty McCollum (MN-04), Ilhan Omar (MN-05), Tom Emmer (MN-06), Collin Peterson (MN-07), and Pete Stauber (MN-08) announced that the U.S. Small Business Administration is offering low-interest federal disaster loans for working capital across Minnesota. This announcement follows a letter sent earlier this week from the Minnesota Congressional Delegation to Small Business Administrator Jovita Carranza calling on the SBA to provide assistance to Minnesota businesses in the form of SBA Economic Injury Disaster Loans.

“The coronavirus pandemic has already placed incredible stress on small businesses throughout Minnesota,” Klobuchar said. “This announcement is welcome news for businesses across our state, and I will continue working to ensure that all Minnesota small businesses can access much needed relief.”

On Thursday, March 19, 2020, U.S. Senators Amy Klobuchar and Tina Smith, and Representatives Jim Hagedorn (MN-01), Angie Craig (MN-02), Dean Phillips (MN-03), Betty McCollum (MN-04), Ilhan Omar (MN-05), Tom Emmer (MN-06), Collin Peterson (MN-07), and Pete Stauber (MN-08) wrote a letter to Small Business Administration Administrator Jovita Carranza calling on the Small Business Administration (SBA) to provide assistance in the form of SBA Economic Injury Disaster Loans (EIDL) for Minnesota businesses following significant economic impacts from the coronavirus (COVD-19) pandemic.

“The COVID-19 pandemic has already had a significant impact on small businesses throughout Minnesota—including those in and associated with the hospitality, educational support, retail, and restaurant industries,” the members wrote. “The measures necessary to help prevent the spread of the COVID-19 have resulted in canceled events, closures of schools and businesses, and a dramatic decline in revenues in key sectors of our economy. We have heard directly from Minnesota small business owners about the substantial losses that they are now facing due to the COVID-19 disaster, which is causing extensive economic damage in our state and which necessitates financial assistance from the federal government.”

The full text of the letter can be found HERE and below:

Dear Administrator Carranza:

We write to you in strong support of Minnesota’s request for a U.S. Small Business Administration (SBA) declaration under 13 C.F.R. § 123.3 to provide assistance in the form of SBA Economic Injury Disaster Loans (EIDL) for Minnesota businesses suffering economic harm as a result of the coronavirus (COVID-19) pandemic. We urge you to approve a statewide EIDL Declaration to assist the business community throughout our state. 

The COVID-19 pandemic has already had a significant impact on small businesses throughout Minnesota—including those in and associated with the hospitality, educational support, retail, and restaurant industries. The measures necessary to help prevent the spread of the COVID-19 have resulted in canceled events, closures of schools and businesses, and a dramatic decline in revenues in key sectors of our economy.

We have heard directly from Minnesota small business owners about the substantial losses that they are now facing due to the COVID-19 disaster, which is causing extensive economic damage in our state and which necessitates financial assistance from the federal government.

Thank you for your attention to this critical request. We look forward to working with you to protect our small businesses.

Sincerely,

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