SACRAMENTO, Calif. – Small nonfarm businesses in Carbon, Emery, Juab, Millard, Sanpete, Sevier and Utah counties are now eligible to apply for lowinterest federal disaster loans from the U.S. Small Business Administration. These loans offset economic losses because of reduced revenues caused by the drought in Sanpete County that began Sept. 13, 2016, announced Director Tanya N. Garfield of SBA’s Disaster Field Operations Center – West.
“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 2.625 percent 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,” Garfield said.
By law, SBA makes Economic Injury Disaster Loans available when the U.S. Secretary of Agriculture designates an agricultural disaster. Secretary Tom Vilsack declared this disaster on Nov. 9, 2016.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or emailing disastercustomerservice@sba.gov. Individuals who are deaf or hardofhearing may call (800) 877-8339. For more disaster assistance information or to download applications, visit https://www.sba.gov/disaster. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for these loans is July 10, 2017.
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