Need a disaster loan?
Some will remember parts of last year as a year for substantial rain in a climate of near drought conditions. Too much rain can backfire on those who make their living from the land. The U-S Small Business Administration reminds small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes that Tuesday, May 27 is the filing deadline for federal economic injury disaster loans. As the result of excessive rain that started April 1, 2013, the loans are available in Oconee, Abbeville, Aiken, Allendale, Anderson, Barnwell, Hampton, Jasper, and McCormick counties. “These counties are eligible because they are contiguous to one or more primary counties in Georgia. The Small Business Administration recognizes that disasters do not usually stop at county or state lines. For that reason, counties adjacent to primary counties named in the declaration are included,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta. The loans are working capital and can be up to $2 million with interest rates of four percent for eligible small businesses and 2.875 percent for non-profit organizations, and terms up to 30 years.