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Deadline nears to apply for SBA drought relief loans

Small Business Administration
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Updated: 8/27 11:06 am
LAS VEGAS (KSNV MyNews3.com) — The U.S. Small Business Administration issued a reminder Tuesday for small, non-farm businesses in Nevada, California and Arizona that they have until Sept. 15 to apply for an Economic Injury Disaster Loan.

These loans are to offset economic losses because of reduced revenues to farmers and ranchers caused by the drought that began Jan. 1. Counties in Nevada eligible include: Clark, Douglas, Esmerelda, Lyon, Mineral and Lyon. 

Tanya Garfield, director of SBA’s Disaster Field Operations Center-West, said the loans would apply to several scenarios.

"SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster," Garfield said.

Small, non-farm businesses, small agricultural cooperatives and 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 responsibilities and operating expenses which could have been met had the disaster not occurred.

Businesses mainly engaged in farming or ranching are not eligible for SBA disaster assistance.

More information on disaster loans and applications can be obtained by calling SBA’s customer service center at (800) 659-2955 or via email at disastercustomerservice@sba.gov. Additional information is also available online at www.sba.gov/disaster.
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