You’ve been granted free access to this subscribers only article.
Businesses eligible for low-interest loan
Small, nonfarm businesses in 131 Texas counties, including Wilson and Bexar counties, are now eligible to apply for low-interest disaster loans from the U.S. Small Business Administration (SBA). “These loans offset economic losses because of reduced revenues caused by drought, excessive heat, high winds, and wildfires that occurred in 40 primary Texas counties beginning January 1, 2011,” announced Alfred E. Judd, director of SBA’s Disaster Field Operations Center-West.
Neighboring Texas counties of Atascosa, Gonzales, Guadalupe, and Karnes counties are also eligible to apply.
“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, nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.
“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, 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,” Judd said.
Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U. S. Department of Agriculture (USDA) assistance made available by the Secretary of Agriculture’s declaration. However, in drought disasters, nurseries are eligible for SBA disaster assistance.
Applicants may apply online using the Electronic Loan Application via SBA’s secure website at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling SBA toll-free at 1-800-659-2955, emailing firstname.lastname@example.org, or visiting SBA’s website at www.sba.gov/services/disasterassistance. Individuals who are deaf or hard of hearing may call 1-800-877 8339.
The deadline to apply for these loans is Tuesday, Sept. 4.
Your Opinions and Comments
Be the first to comment on this story!
You must be logged in to post a comment.
Agriculture Today Archives
Bermuda grass stem maggot spreads in Texas (July 29, 2015)
Floresville FFA members receive degrees, Walrath scholarship (July 29, 2015)
Hay & Forage Report (July 29, 2015)
Livestock Market Reports (July 29, 2015)
Roses suffer from heat (July 29, 2015)
Senate, House spending bills signal support for industry (July 29, 2015)
TDA Market Report (July 29, 2015)
Texas farmer to lead corn group (July 29, 2015)
Time to prepare for hurricane season (July 29, 2015)
‘Where Does Our Food Come From?’ (July 29, 2015)
Crow is 15th in the nation (July 22, 2015)
Have you seen a Texas horned lizard? (July 22, 2015)
Hay & Forage Report (July 22, 2015)
Landscaping picks (July 22, 2015)
Livestock Market Reports (July 22, 2015)
Offices issue receipts (July 22, 2015)
Recent rains — fewer grasshoppers! (July 22, 2015)
Stallman announces departure in January (July 22, 2015)
TDA Market Report (July 22, 2015)
Benefits of the Chinese pistache (July 15, 2015)
Cattle market outlook, trends short course (July 15, 2015)
Conservation assistance online for landowners, users (July 15, 2015)
Crouch Memorial Bull Riding is July 25 (July 15, 2015)
Hay & Forage Report (July 15, 2015)
Livestock Market Reports (July 15, 2015)
Mischief-maker transforms into equine world champion (July 15, 2015)
TDA Market (July 15, 2015)
Wardens investigate alligator attack (July 15, 2015)
Ag-Pro continues John Deere tradition (July 8, 2015)
Cattlemen, Floresville FFA unite (July 8, 2015)
Hay & Forage Report (July 8, 2015)
Livestock Market Reports (July 8, 2015)
Locals attend conference (July 8, 2015)
Much of peach crop excellent quality, quantity (July 8, 2015)
Nomination period open for farm committee (July 8, 2015)
TDA Market Report (July 8, 2015)
Things farmers do when it rains (July 8, 2015)
Two-part water conservation landscaping workshop in SA (July 8, 2015)
U.S. cattle herd safety threatened by Brazilian beef importation? (July 8, 2015)
West Nile virus vaccine in horses (July 8, 2015)
Will new driveway affect live oak? (July 8, 2015)
Hay & Forage Report (July 1, 2015)
July 2015 Gardening Calendar (July 1, 2015)
Livestock Market Reports (July 1, 2015)
Native anaqua is a tasty treat for wildlife (July 1, 2015)
TDA Market Report (July 1, 2015)
Texas railway raises concerns on eminent domain (July 1, 2015)
Third time's a charm for Buck Taylor roping (July 1, 2015)