28.8 Thousands of businesses in Minnesota, North Dakota and South Dakota hurt by flooding have applied for government disaster loans. For many, the weeks after the flood have been spent analyzing whether they can stay in business. Standing on the lip of the pit, six feet deep, bordered by twisted, broken pipes, station operator Jeff Knutson says it once contained gasoline storage tanks. When the storage tanks floated out of the soil the future of Kntuson's business came adrift.
Businesses hurt by flooding can apply for federal disaster loans.
Many businesses find they can take on significantly more debt than they had before the flood, yet their monthly loan payments are the same. But waiting for the federal money to be approved can be difficult. Many businesses need cash now to tide them over until the federal money arrives. Dan Windschitl runs a spray foam insulation business out of his New Ulm home. The flooding Minnesota River closed his business for several weeks.