SBA Accepting Applications for Loans Due to Drought

The U.S. Small Business Administration is helping businesses in several states including Arkansas and Missouri with drought recovery.

According to releases issued Tuesday, the SBA is accepting applications after the U.S. Department of Agriculture declared a disaster due to the ongoing dry conditions in several states. 

Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred. The release goes on to say that applications are being accepted now in anticipation of funding for the loans being appropriated through the U.S. Congress. 

In Arkansas, Boone, Carroll, and Madison Counties are identified as primary counties for the relief while neighboring counties Marion, Newton, and Searcy are also eligible. In Missouri, Barry, Stone, and Taney Counties are primary counties with neighboring counties also eligible include Christian, Douglas, and Ozark. 

A link to the full release is on the SBA Website.