Small, non-farm businesses in 96 Missouri counties, including Newton, McDonald and Jasper, may apply for low-interest disaster loans from the U.S. Small Business Administration.
According to Alfred E. Judd, director of SBA’s disaster field operations center – west, the loans are to offset economic losses because of reduced revenues caused by excessive rain and flooding that began March 1.
Other area counties also included on the list is Ottawa County in northeast Oklahoma, and Cherokee and Crawford counties in southeastern Kansas.
Small businesses and most private, non-profit organizations of any size may qualify for economic injury disaster loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.
“Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage,” Judd said. “These loans have an interest rate of four percent, a maximum term of 30 years, and are available to small businesses and most private, non-profits without the financial ability to offset the adverse impact without hardship.”
By law, SBA makes these loans available when the federal agriculture secretary designates an agricultural disaster. Missouri Gov. Matt Blunt asked Secretary Ed Schafer to make the declarations, Judd said.
Businesses engaged in farming or ranching aren’t eligible for SBA disaster assistance, but may seek aid from the USDA through the Farm Services Agency.
Information and application forms are available from SBA’s customer service center by calling 1-800-659-2955, by e-mailing disastercustomerservice@sba.gov, or by visiting SBA’s Web site at www.sba.gov/services/disasterassistance. Hearing impaired people may call 1-800-877-8339. The electronic loan application is accessible via SBA’s secure Web site at https://disaster loan.sba.gov/ela.
Deadline for applications is May 5.
