Relief For Drought Stricken Businesses
Sacramento, CA - Small, nonfarm businesses in 19 counties in California, including Tuolumne and Calaveras, are now eligible to apply for federal disaster loans. Those loans are being offered by the U. S. Small Business Administration (SBA) and can go up to two million dollars. SBA officials say the loans are to help offset financial losses caused by the June 4 - July 29, 2013 drought.
SBA Spokesperson Alfred E. Judd says, "Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4% for businesses and 2.875%for private, nonprofit organizations, a maximum term of 30 years, and are available to small businesses and most private, nonprofits without the financial ability to offset the adverse impact without hardship."
The deadline to apply for a loan is March 3, 2014 for Tuolumne County and March 31, 2014 for Calaveras County.
Click here for more information on the loans.
Written by Tracey Petersen
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