Home News Business

Small businesses impacted by drought may qualify for loans

Blue Mountain Eagle

Published on October 28, 2016 4:52PM


Small nonfarm businesses in Grant County are now eligible to apply for low‑interest federal disaster loans from the U.S. Small Business Administration.

These loans offset economic losses because of reduced revenues caused by the drought that began Aug. 9, 2016, according to a press release from the administration.

Eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster.

Businesses primarily engaged in farming or ranching are not eligible for this disaster assistance. Agricultural enterprises should contact the Farm Services Agency about U.S. Department of Agriculture assistance. However, nurseries are eligible.

Applicants may apply online at https://disasterloan.sba.gov/ela. The deadline to apply for these loans is June 5, 2017.



Marketplace

Share and Discuss

Guidelines

User Comments