Some Minnesota veterans who start new small businesses are now eligible for interest-free state loans of up to $20,000.

The loans — which must be repaid within 54 months — are available under an expanded program administered by the Minnesota Department of Employment and Economic Department (DEED).

Eligible are those "recently separated from military service who are seeking financial help for starting small businesses," the department says. Details are on the DEED website.

"Veterans have successful track records as entrepreneurs, having developed leadership abilities and other skills in the military that are essential for running a business," said DEED Commissioner Dan McElroy. "Veteran-owned businesses create jobs in Minnesota and contribute to the growth of our economy."

The Legislature this spring approved expansion of an earlier program, the Military Reservist Economic Injury Loan Program, which provides no-interest loans of up to $20,000 to businesses that suffered financial hardships because of the temporary loss of essential employees (including business owners) to military service.

Those economic injury loans will continue, in addition to the new small business loans.