SBA announces special loans for businesses struggling from warm winter
MINNEAPOLIS — Many are enjoying the warm temperatures, but for businesses that depend on the cold and snow, it is just another painful reminder of a winter that wasn't.
Speaking at a snow-challenged Theodore Wirth Park, Gov. Tim Walz and the Small Business Administration announced the SBA would provide low-interest loans of up to $2 million for those businesses that have taken a hit.
The hit has been big at Scott's Lawn Care.
"No winter has come close to being this scarce," owner Scott Hartmann said. "Which has led to a 40% loss in revenue and this has sadly forced us to lay off much of our staff."
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At Finn Sisu, a specialty ski store in Lauderdale, WCCO found inventory overflowing — everything from the experts' skis to the beginner models, accessories that have not sold and an awful lot of ski clothing.
Owner Karne Weium bought the 40-year-old business in July. After near-record snowfalls last winter, she thought she had a good investment.
"We have records going back 40 years and its been 20 years since we sold so few skis and that is when were in our tiny shop off University Avenue," Weium said.
Weium was at the loan announcement — loans the SBA has never offered before because of warm winter weather.
For more information on the loan program, click here
