OLMSTED, IL ? JULY 26: A corn plant grows in a field parched by drought on July 26, 2012 near Olmsted, Illinois. The field, farmed by Kevin Ulrich, was one of several in the drought stricken region of Southern Illinois that were visited by officials from the United States Department of Agriculture?s (USDA) Farm and Foreign Agriculture Services (FFAS) department and Farm Service Agency (FSA). Seventy percent of Illinois, the nation?s number two corn producing state, is classified as experiencing some level of drought. (Image credit: Getty Images via @daylife)
Businesses directly impacted by disaster, as well as businesses dependent on farmers and ranchers who have suffered losses, are eligible for low-interest loans
JEFFERSON CITY ? The U.S. Small Business Administration (SBA) is making low-interest disaster loans available to small, nonfarm businesses in all 114 Missouri counties and the City of St. Louis because of the prolonged heat and drought gripping the state, Gov. Jay Nixon said today. The Economic Injury Disaster Loans from the SBA are available because of the statewide agricultural disaster declaration issued by the U.S. Department of Agriculture at the Governor?s request.
?We?ve already taken extraordinary steps to help farmers and livestock producers who have suffered severe losses because of the heat and drought,? Gov. Nixon said. ?These loans through the SBA can help other businesses that also have been impacted directly by this disaster, or that depend on the farmers who have been hit hard.?
According to the SBA, small, nonfarm businesses; small agricultural cooperatives; small businesses engaged in aquaculture, and most private, non-profit organizations of any size may qualify for loans of up to $2 million to help meet financial obligations and operating expenses which could have been met if the disaster had not occurred. The disaster declaration issued earlier this month by the USDA makes farmers and ranchers eligible for low-interest federal loans from the Farm Service Agency.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA?s secure Web site 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 (800) 659-2955, emailing disastercustomerservice@sba.gov, or visiting SBA?s Web site at www.sba.gov/services/disasterassistance. Hearing-impaired individuals may call (800) 877-8339.
The deadline to apply for these loans is March 18, 2013.
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