SBA Economic Disaster Loans Available for Nebraska Small Businesses

0

Non-farm small businesses in 17 counties in Nebraska and neighboring counties in South Dakota and Wyoming are now eligible to apply for low-interest federal disaster loans from the U.S. Small Business Administration, according to a release. Press.

These loans compensate for economic losses due to reduced incomes caused by the drought in the following major counties which began on June 21.

  • Major counties in Nebraska: Arthur, Banner, McPherson, Scotts Bluff and Sioux.
  • Neighboring Nebraska counties: Box Butte, Cheyenne, Dawes, Garden, Grant, Hooker, Keith, Kimball, Lincoln, Logan, Morrill, and Thomas.
  • Neighboring county in South Dakota: Fall River.
  • Neighboring Wyoming counties: Goshen, Laramie, and Niobrara.

“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,” said Director Tanya. N. Garfield of the SBA’s Disaster Field Operations Center-West.

People also read…

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.

“Eligibility for these loans is based solely on the financial impact of the disaster and not the actual property damage,” Garfield said. “These loans have an interest rate of 2.935% for businesses and 1.875% for private nonprofits, a maximum term of 30 years, and are available to small businesses and most nonprofits. private without the financial capacity to offset the negative impact without difficulties.

By law, the SBA makes economic disaster loans available when the United States Secretary of Agriculture designates an agricultural disaster. The Secretary declared this disaster on August 15th.

Businesses whose primary business is agriculture or ranching are not eligible for SBA disaster relief. Agricultural businesses should contact the Farm Services Agency about the United States Department of Agriculture assistance made available by the Secretary’s Statement. However, nurseries are eligible for SBA disaster assistance in the event of a drought.

For more information or to download an application, go to Disasterloanassistance.sba.gov, call 800-659-2955, or email [email protected] Applications should be mailed to US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas 76155.

The deadline to file an economic injury claim is April 17, 2023.

Share.

About Author

Comments are closed.