Federal business loans available to offset Boundary Waters wildfire losses

The U.S. Small Business Administration, or SBA, announced the availability of disaster loans for businesses and nonprofits affected by 2026 wildfires in and around the Boundary Waters Canoe Area Wilderness.

Staff with the SBA announced the low-interest loans in a statement Monday, Oct. 26, following a request from Gov. Tim Walz. The loans are available in Aitkin, Carlton, Cook, Itasca, Koochiching, Lake and St. Louis counties.

Wildfires blazed across the northern Arrowhead during peak tourism season this year, leading to economic losses for local businesses. The entirety of the Boundary Waters closed in mid-July, while many of the area's campsites remained closed through mid-August.

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The maximum loan amount is $2 million, and no payments or interest will be collected in the first year of distribution. The funds can be used to pay debts, payroll and other expenses strained by the disaster, even if the business wasn't physically damaged.

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Chris Stallings is the associate administrator of the SBA's Office of Disaster Recovery.

“These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster," he said in the news release.

The loans are available to small businesses, small agriculture co-ops and private nonprofits, including faith-based organizations. Ag producers, farmers and ranchers are not eligible for the loans at this time.

Staff with the SBA will be at recovery centers in Ely and Grand Marais through Nov. 9 to answer questions and help people complete their applications. Those interested can walk in or schedule an appointment.

More information, including an online application, is available at the U.S. Small Business Administration website. Applications are due July 22, 2027.