Drought Loans Available 26 Sep 12

The US Small Business Administration has announced that federal Economic Injury Disaster Loans are now available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes in Minnesota as a result of the drought between July 24th and September 17th of this year. In the local area, the disaster declaration includes Brown, Cottonwood, Redwood and Renville Counties. The loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this drought. The loan amount can be up to $2-million, and may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits. More information and loan applications can be found on the website  www.sba.gov. Loan applications must be returned no later than May 20th of 2013.