SBA Loans Available for 6 Eastern Iowa Counties - KWWL - Eastern Iowa Breaking News, Weather, Closings

SBA Loans Available for 6 Eastern Iowa Counties

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Sacramento, CA. (KWWL) -- The U.S. Small Business Association has announced that samll, non-farm businesses in six Eastern Iowa counties are eligible to apply for low-interest disaster loans.

The small non-farm businesses in Black Hawk, Butler, Grundy, Hardin, Marshall and Tama counties are eligible for the loans for damage caused by severe storms, hail and flooding that happened between August 1st and August 9th of this year.

The loans, of up to $2 million, will help businesses dependent on farmers and ranchers that suffered losses that they would not have suffered if the storms had not happened.

The eligibility for the loans is based on the financial impact of the disaster only, not actual property damage.

The loans have an interest rate of 4% with a maximum term of 30 years.

The counties were declared agricutltural disaster areas by U.S. Secretary of Agriculture Tom Vilsack at the request of Governor Culver. 

For more information and application forms, call the SBA's Customer Service Center at(800) 659‑2955, or visiting SBA's Web site at www.sba.gov/services/disasterassistance

The deadline to apply for these loans is May 10, 2010.

Online Content Manager: Eric Page

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