Small Non-Farm Businesses in Cassia, Twin Falls Counties are eligible for “Economic Disaster Loans”
SACRAMENTO, Calif. (KMVT / KSVT) – Small non-farm businesses in Cassia and Twin Falls counties are now eligible to apply for low-interest federal disaster loans with the US Small Business Administration.
Small non-farm businesses, small farm cooperatives, small businesses engaged in aquaculture, and most private non-profit organizations of any size may be eligible for economic disaster loans of up to $ 2 million. dollars to help meet financial obligations and operating expenses that might have been covered had the disaster not occurred.
“Eligibility for these loans is based solely on the financial impact of the disaster and not on actual property damage. These loans have an interest rate of 3% for businesses and 2% for private non-profit organizations, with a maximum term of 30 years and are available for small businesses and most non-profit organizations. private profit without the financial capacity to offset the negative impact without difficulties, ”said the director. Tanya N. Garfield of the SBA West Disaster Field Operations Center.
By law, the SBA makes economic disaster loans available when the US Secretary of Agriculture designates an agricultural disaster. The Secretary declared this disaster on March 5, 2021.
Businesses primarily engaged in agriculture or ranching are not eligible for SBA disaster assistance. Farm businesses should contact the Farm Services Agency regarding the U.S. Department of Agriculture assistance made available by the Secretary’s Statement. However, nurseries are eligible for disaster assistance from the SBA in the event of drought.
Applicants can apply online, receive additional information about disaster assistance, and download applications at https://disasterloanassistance.sba.gov/. Applicants can also call the SBA Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA Disaster Assistance. People who are deaf or hard of hearing can call (800) 877-8339. Completed applications should be mailed to US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to submit a claim for economic harm is November 5.
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