DISASTER LOANS FOR ECONOMIC DAMAGE AVAILABLE

March 12, 2021 10:20 a.m.

Small non-farm businesses in four counties in Oregon and a neighboring county in California are now eligible to apply for low-interest federal disaster loans with the US Small Business Administration.

A statement said the loans made up for economic losses that occurred as a result of reduced income caused by the drought that began Jan. 1 of this year in Coos and Curry counties. Businesses in Douglas and Josephine counties are also eligible, as are those in Del Norte County, California.

Director Tanya Garfield of the SBA’s Disaster Field Operations Center-West said eligibility covers both the economic impacts on businesses dependent on farmers and ranchers who suffered crop production losses caused by the disaster and the companies directly affected by the disaster.

The statement said that small non-farm businesses, small farm cooperatives, small businesses engaged in aquaculture, and most private non-profit organizations of any size are eligible for economic disaster loans of up to to $ 2 million to help meet financial obligations and operating expenses that might have been covered had the disaster not occurred.

By law, the SBA makes economic disaster loans available when the US Secretary of Agriculture designates an agricultural disaster. This disaster was declared on March 5.

Applicants can apply online or get more information by going to: https://disasterloanassistance.sba.gov/ela/s/

The deadline to apply is November 5 of this year.

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