Disaster assistance available for small, non-farm businesses
Wednesday, August 31, 2011
Posted by: Rhette Baughman
Disaster assistance available for small, non-farm businessesSmall, non-farm businesses in nine Arizona counties are eligible to
apply for low interest disaster loans from the U. S. Small Business
"These loans offset economic losses because of reduced revenues
caused by drought, wildfires and high winds in the following primary
Arizona counties beginning Jan. 1,” said Alfred E. Judd, director of
SBA’s Disaster Field Operations Center-West.
Arizona counties include: Apache, Cochise, Graham, Greenlee and Santa Cruz, Gila, Navajo, Pima and Pinal.
"SBA 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,” Judd said.
Small, non-farm businesses, small agricultural cooperatives, small
businesses engaged in aquaculture and most private, nonprofit
organizations of any size may qualify for Economic Injury Disaster Loans
(EIDLs) of up to $2 million to help meet financial obligations and
operating expenses which could have been met had the disaster not
"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 percent for businesses and 3 percent for private,
non-profit organizations, 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,” Judd said.
By law, SBA makes EIDLs available when the U. S. Secretary of
Agriculture designates an agricultural disaster. Secretary Tom Vilsack
declared this disaster at the request of Governor Jan Brewer.
Applicants can apply online at https://disasterloan.sba.gov/ela.
For more information, visit www.sba.gov. Source: http://www.paysonroundup.com/news/2011/aug/30/disaster-assistance-available-small-non-farm-busin/