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Federal agencies offering drought disaster loans
The loans are expected to offset economic losses caused by the drought that began on January 1, 2014.
The Small Business Administration and the U.S. Department of Agriculture are offering the loans, but each agency has a different set of criteria that must be met.
The Small Business Administration is offering low-interest loans to businesses that work directly with growers, such as truckers and suppliers of agricultural equipment or services, small agricultural cooperatives, and small businesses engaged in agriculture, such as nurseries.
Small Business Administration Economic Disaster Loans could offer up to $2 million in relief.
Businesses engaged in farming or ranching may be offered assistance through the USDA Farm Service Agency. The USDA FSA offers emergency farm loans of up to $500,000 for actual losses as a result of the drought to farmers and ranchers who conduct family-size farming operations or those who operate certified farmer’s markets.
Contact the Small Business Administration at (800) 659-2955 or email firstname.lastname@example.org. Applicants may apply online using the Electronic Loan Application at https://disasterloan.sba.gov/ela.
Contact the USDA Farm Service Agency at (661) 942-9549 or click here to visit the website.
For more drought-related information, visit the following links: