Drought disaster loans available

Douglas and Alpine county small non-farm businesses are eligible for low-interest disaster loans from the U.S. Small Business Administration.

Businesses in Nevada and neighboring counties in Idaho, Arizona, California and Utah are eligible for the loans to offset economic losses because of reduced revenues caused by drought beginning Jan. 1, 2008.

"Small businesses and most private non-profit organizations of any size may qualify for economic injury disaster loan of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred, according to Alfred E. Judd, director of the 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," Judd said. "These loans have an interest rate of 4 percent maximum term of 30 years, and are restricted to small businesses without the financial ability to offset the adverse impact without hardship."

Agricultural interests affected by the drought should contact the Farm Services Agency about U.S. Department of Agriculture assistance.

For more information, visit www.sba.gov/services/disasterassistance.


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