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Businesses Can Apply for Drought Relief

By Matthew Leaf

07/26/2012

Small, non-farm, businesses in all 105 Missouri counties, the city of St. Louis, as well as neighboring counties in states including Nebraska, Kansas, and Iowa, are eligible to apply for emergency loans from the Small Business Administration. The SBA is making the loans available to help offset the economic loss to businesses as a result of the excessive heat and drought this summer.
SBA spokesman Alex Contreras says small businesses in 97 primary counties and eight adjacent counties are eligible to apply for the loans. (play audio :27)
Businesses that qualify for loans include small agricultural cooperatives; small businesses engaged in aquaculture, and most private non-profit organizations of any size. Contreras says loans can go to farm equipment dealers who don’t sell equipment in times like these, fertilizer and seed companies that see their business dry up, and other types of businesses. (play audio :21)
Contreras says the SBA Economic Injury Disaster Loans can be pretty big and can be structured over a long period of time. (play audio :19)
Businesses engaged primarily in farming or ranching are not eligible for SBA disaster assistance. Those enterprises should contact the Farm Service Agency to inquire about USDA assistance.
All area northwest Missouri counties are considered primary counties in the SBA declaration. Neighboring counties include Richardson, Nemaha, and Otoe in Nebraska; Doniphan, Atchison, and Leavenworth in Kansas; and Fremont and Page Counties in Iowa.
Contreras says businesses should contact the SBA as soon as possible to begin the application process. Information on disaster loans is available by calling the SBA toll-free at 1-800-659-2955, or by visiting the SBA website, www.sba.gov. The deadline to apply for the loans is March 18, 2013.

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