August 1st, 2011
Drought disaster loans available to small businesses

STAFF REPORT

Hays County small businesses frustrated by drought and heat may be eligible for low-interest loans of up to $2 million to help make ends meet.

The federal Small Business Administration is making the loans available to Central Texas counties to offset economic loss from the ongoing record dry spell, the Hays County Commissioners Court announced last week. The deadline to apply is February 12, 2012.

The Economic Injury Disaster Loans are available to non-farming and ranching businesses, including plant nurseries, and most nonprofit organizations. Farmers and ranchers should contact the U.S. Department of Agriculture’s Farm Services Agency about assistance.

Disaster to businesses carry a 4 percent interest rate and loans to non-profit organizations carry a 3 percent interest rate.

Businesses can apply online here. For information or application forms, call 1-800-659-2955 or email disastercustomerservice@sba.gov. Hearing impaired people can call 1-800-877-8339.