49° and Mist
MINNEAPOLIMEDIA NEWS | Federal Disaster Loans Open for Businesses Hurt by Boundary Waters Wildfire Losses
Eligible businesses and nonprofits can seek working-capital assistance, with application help available in Ely and Grand Marais.
ST. PAUL, MN (October 28, 2026). Small businesses and nonprofit organizations that suffered financial losses from this summer’s Boundary Waters Canoe Area Wilderness wildfires can now apply for federal disaster loans.
The Small Business Administration announced the assistance October 26. The declaration covers the wildfire incident period July 11 through August 11, 2026, and sets an application deadline of July 22, 2027.
Economic Losses Can Qualify Without Property Damage
Economic Injury Disaster Loans address working-capital needs caused by a declared disaster. An eligible applicant does not have to show that fire physically damaged its building.
The SBA says funds may cover obligations such as payroll, fixed debts, accounts payable and other bills that cannot be met because of disaster-related losses.
Eligible categories include small businesses, small agricultural cooperatives and private nonprofit organizations, including faith-based organizations. Most agricultural producers are excluded, with an exception for small aquaculture enterprises.
Which Counties Are Covered
The federal declaration identifies Cook and St. Louis counties as the primary affected counties.
It also includes the adjoining Minnesota counties of Aitkin, Carlton, Itasca, Koochiching and Lake, along with Douglas County, Wisconsin.
The notice lists interest rates of 4 percent for qualifying businesses and small agricultural cooperatives and 3.625 percent for qualifying private nonprofits without credit available elsewhere. These are loans requiring repayment, not grants.
Application Assistance Opens Locally
The SBA’s recovery-center announcement lists an Ely location at 1600 East Sheridan Street, which opened October 27, and a Grand Marais location at the Cook County Community Center, 317 West Fifth Street, scheduled to open at noon October 28.
Representatives can explain eligibility and help with applications. Walk-ins are welcome, and appointments can be requested through appointment.sba.gov.
The agency says both temporary centers are scheduled to close November 10. Their closing dates do not replace the later loan application deadline.
Governor Tim Walz encouraged affected businesses to apply October 27, describing losses that extended beyond places where flames directly burned. The state announcement framed the financing as support for businesses recovering lost revenue and disrupted operations.
Applications are available through the MySBA Loan Portal. The federal declaration lists 800-659-2955 for assistance and 711 for telecommunications relay access. Applicants should reference the Minnesota wildfire declaration when seeking guidance.
STAY CONNECTED TO MINNEAPOLIMEDIA
Local stories matter. Subscribe free to MinneapoliMedia and receive independent news, community reporting and important updates from Minneapolis, the North Metro and communities across Minnesota.
SUBSCRIBE FREE: https://minneapolimedia.town.news/subscribe
MinneapoliMedia | Community. Culture. Civic Life
