Emergency Loans for Drought Available for Small Businesses in California
Small businesses in a handful of counties in California are now eligible to apply for low interest federal loans to help offset the costs of prolonged drought.
The U.S. Small Business Administration announced that non-farm businesses may qualify for loans up to $2 million.
Agency director Tanya Garfield says eligibility will be determined on financial impact of the drought and not on any property damage.
Drought loans bear interest rates of 4% for businesses and roughly 2.6 percent for non-profit organizations.
Applicants may apply online at the Small Business Administration website.
Read More »Emergency Loans for Drought Available for Small Businesses in California