RUSHFORD, Minn. (KTTC) — Homeowners in Southeast Minnesota looking for help after waves of summer flooding now have a new option. Tuesday morning, Minnesota Housing announced interest free loans that could help property owners in six local counties.
The Minnesota Housing Disaster Recovery Loan Program provides forgivable, no-interest loans of up to $15,000. The program is only available to flood victims of Dodge, Goodhue, Mower, Olmsted, Rice and Steele counties.
Granted funds must be used for repairing damaged, single family homes and 1-4 unit rental properties. There are no income limits to be eligible for the loans.
Homeowners must first apply for and accept all insurance and SBA funds before applying for the Disaster Recovery Loan Program.
The deadline to apply for SBA funds is September 30. The deadline to apply for the Disaster Recovery Loan program is November 30.
Homeowners can contact program administrators to apply for the Disaster Recovery Loan Program.: