4 years, 8 months ago by Scott Hardy
U.S. Small Business Association announces disaster loans available
A Federal agency says that loans are now available for those in the Tri-States affected by this spring's flooding.
The U.S. Small Business Administration announced Wednesday that Economic Injury Disaster Loans are available to small businesses, small ag cooperatives and private nonprofit organizations. The loans are available to the entire state of Illinois as well as Clark, Lewis, Marion, Pike and Ralls Counties in Missouri and Lee, Louisa and Des Moines counties in Southeast Iowa. The SBA says that its' Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of flooding. The loan amount can be up to $2 million, with interest rates of 3.675 percent for small businesses and 2.5 percent for private nonprofit organizations of all sizes, with terms up to 30 years.
Applicants may apply online at Disasterloan.sba.gov.
