People can apply for SBA loans (individuals or businesses) at Lucy Laney School, 3333 Penn N., on July 12 through 15 and July 18 and 19 from 10:30 a.m. to 7 p.m. and on July 16 from 9 a.m. to 12 p.m. To get most federal disaster assistance, you must first have applied for the SBA loan.
As I’ve said before, this isn’t a wonderful program from the feds. Their standards and terms are not greatly reduced from banks. I just read a national study which showed that the federal disaster assistance is good for middle class families and the wealthy, but not for low-income. The study especially looked at New Orleans and the way federal help was greatly lacking for low-income people, but helped higher income people. This substantiates my allegations to that effect in my emails right after the tornado in May.
Joe Mullery
387 State Office Building
Saint Paul MN 55155
651-296-4262 (Ph)
651-296-3869 (Fax)