BEMIDJI — The federal Small Business Administration disaster recovery team continues its work in Bemidji, despite the government shutdown.
The SBA extended its outreach center operation a week longer as it works through disaster recovery loans for Bemidji businesses, nonprofits, renters and homeowners impacted by the June 21 derecho.
The SBA outreach center at Bemidji Fire Station No. 2, 312 Lake Ave. SE, will permanently close 2 p.m. Saturday, Oct. 25. Its Monday through Friday hours are 8 a.m. to 5 p.m., and Saturday hours are 10 a.m. to 2 p.m.
During a roundtable discussion at the Bemidji Area Chamber of Commerce office Wednesday, Oct. 15, SBA public affairs specialist Lane Davis explained how the loan money can be used, beyond recovery.
"On top of the amount you're approved for, you can also apply for an additional 20% for mitigation," Davis said."That would be any kind of measures you take to protect your home or business from a future disaster."
Mitigation efforts include preventative measures for fires, storms and floods.
The SBA offers interest rates as low as 4% for businesses and nonprofits and as low as 2.8% for homeowners and renters. The agency encourages everyone eligible to apply, even if insurance claims have not yet been completed.
Bemidji Chamber Executive Director Scott Turn invited members of the banking community to the discussion and said he was glad to hear of the loans’ flexibility for businesses trying to rebuild.
"There are still businesses that are still trying to figure out the insurance side of things, like, 'What am I even going to get from my insurance company?' 'Can I apply for this loan even before I know those things?' And the answer seems to be, 'Yes,'" Turn said.
"There are a lot of things, once you start peeling things back, when there's water damage and things like that, there's a lot of unknowns, too."
The SBA will accept personal property recovery loan applications from eligible applicants in storm-impacted counties until Dec. 1. Economic injury recovery loan applications will be accepted until July 2, 2026.
Businesses and nonprofits can apply for business physical disaster loans and borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory and other business assets.
Homeowners and renters are eligible to apply for home and personal loans up to $100,000, to replace or repair personal property such as cars, clothes, furniture and appliances. Homeowners can also apply for up to $500,000 to replace or repair their primary residence.
The SBA's declaration covers the counties of Beltrami, Cass, Clearwater, Hubbard, Itasca, Koochiching, Lake of the Woods, Marshall, Pennington and Roseau. Eligible groups can apply for physical damage loans and economic injury disaster loans.
Applications can be made online or by calling the SBA's customer service center at 800-659-2955.
Walk-ins at the outreach center are welcome, with applicants encouraged to arrive at least one hour before the center closes to fully process their applications.
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