With 81 Minnesota counties in an ongoing federal drought declaration, the Small Business Administration is rolling out financial resources for businesses affected by a lack of snowfall this winter.

The SBA will host a virtual webinar at 10 a.m. Friday, March 15, for Minnesota businesses interested in applying for Economic Injury Disaster Loans up to $2 million.

If a loan is granted, businesses would not have to pay interest for the first year, with a maximum rate of 4% from the remainder of the loan period.

Gov. Tim Walz recently urged Minnesota business owners to apply for assistance as soon as possible.

As of Feb. 29, most areas in the state had received less than 50% of their normal snowfall totals, according to the Minnesota Department of Natural Resources. That has impacted a variety of businesses that rely on wintry conditions, including northern Minnesota resorts.

Applications and additional disaster assistance information can be found at lending.sba.gov. Applicants can also contact Small Business Development Centers or message the customer service center at disastercustomerservice@sba.gov.

To register for the webinar, visit https://tinyurl.com/3tp6wuef.

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