SBA offering loans to NEPA businesses affected by ’16 drought

Drought Watch Expanded to Include Much of Area_7294860003362423157

ATLANTA, GEORGIA (WBRE/WYOU) – The U.S. Small Business Administration (SBA) says it’s making disaster loans available for businesses impacted by this year’s drought, including many counties in central Pennsylvania.

The SBA announced Wednesday it’s making federal Economic Injury Disaster Loans available in connection with the drought which began on July 19, 2016.

The declaration includes these counties: Bradford, Cameron, Clinton, Columbia, Crawford, Erie, Lycoming, McKean, Montour, Northumberland, Potter, Sullivan, Tioga, Union and Warren counties.

The program is available to eligible farm-related and non-farm-related businesses that suffered financial losses as a direct result of the drought.

The loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private  nonprofit organizations.

Not eligible are agricultural producers, farmers or ranchers, but nurseries will be eligible.

Applications can be made for loans up to $2 million with interest rates ranging from 2.625 percent to 4 percent.

You can get more specific details on the application process by clicking here.

The deadline for applications is May 15, 2017.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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