Disaster loans available for non-farm businesses in 18 Nebraska counties | Local
Non-farm small businesses in 18 counties in Nebraska and a neighboring county in Colorado are now eligible to apply for low-interest federal disaster loans from the U.S. Small Business Administration, Director Tanya N announced. Garfield of the SBA’s Disaster Field Operations Center-West.
These loans compensate for economic losses due to the drop in income caused by the drought that began on April 19.
The major eligible Nebraska counties are Adams, Clay, Deuel, and Keith. These neighboring counties are also eligible: Arthur, Buffalo, Cheyenne, Fillmore, Garden, Hall, Hamilton, Kearney, Lincoln, McPherson, Nuckolls, Perkins, Webster and York. Neighboring Sedgwick County, Colorado is also eligible.
“SBA eligibility covers both economic impacts on businesses dependent on farmers and ranchers who suffered agricultural production losses caused by the disaster and businesses directly affected by the disaster,” Garfield said in a statement. Press release.
Small non-agricultural businesses, small agricultural 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 for help meet financial obligations and operating expenses that could have been met had the disaster not occurred.
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Loan eligibility is based solely on the financial impact of the disaster and not actual property damage, Garfield said. Interest rates are 2.94% for businesses and 1.875% for private non-profit organizations with a maximum loan term of 30 years.
Businesses whose primary business is agriculture or ranching are not eligible for SBA disaster relief. Agricultural businesses should contact the Farm Services Agency about assistance available from the United States Department of Agriculture. However, nurseries are eligible for SBA disaster assistance in the event of a drought.
Applicants can apply online, receive additional disaster assistance information, and download applications at https://disasterloanassistance.sba.gov/. Applicants may also call the SBA Customer Service Center at 800-659-2955 or email [email protected] for more information about SBA disaster assistance.
Completed applications should be mailed to US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to file an economic injury claim is February 13, 2023.