SBA declares disaster declaration for Otter Tail, Wadena counties
The Small Business Administration (SBA) has made a disaster declaration for the counties of Otter Tail and Wadena.
This declaration will provide low interest loan opportunities to home and business owners who suffered losses and damages as a result of the severe weather, which occurred June 17-26.
Those wishing to seek assistance from the SBA may contact the Wadena-Otter Tail Disaster Recovery Center at the National Guard Armory in Wadena.
Minnesota counties contiguous to Wadena and Otter Tail are also eligible for certain SBA disaster assistance if they received severe weather related losses and damages between June 17-26. These counties include Becker, Cass, Clay, Douglas, Grant, Hubbard, Todd and Wilkin.
To learn more about the SBA disaster assistance program, go to http://www.sba.gov/services/disasterassistance/index.html.
Gov. Tim Pawlenty said businesses and residents in seven counties affected by last month's storms should be given the low-interest federal loans. His decision to request the loans came after the federal government denied his request for help for individuals affected by the tornados and other storms on June 17.
In his letter to the SBA, Pawlenty said at least 25 homes and businesses in Otter Tail and Wadena counties alone sustained uninsured losses of at least 40 percent of their value, the threshold for SBA loans.
He asked the SBA to make loans available in those counties and Faribault, Freeborn, Olmsted, Polk and Steele, as well as adjoining counties.