The Journal
Small nonfarm businesses in Colorado, Utah, Arizona and New Mexico have until Dec. 12 to apply for a Small Business Administration federal disaster loan for economic injury. The low-interest loans are to offset economic losses because of reduced revenues caused by drought in the following primary counties that began April 1:
Colorado: Dolores, Mesa, Montezuma, Montrose and San Miguel.
Utah: Kane, San Juan, Wayne, Emery, Garfield, Grand, Iron, Piute, Sevier and Washington.
Arizona: Apache, Coconino, Mohave and Navajo.
New Mexico: San Juan.
The Economic Injury Disaster Loans of up to $2 million to help meet working capital needs caused by the disaster. The interest rate is 3.58 percent for businesses and 2.5 percent for private nonprofit organizations with terms up to 30 years.
Businesses primarily engaged in farming or ranching are not eligible. Nurseries are eligible.
Applicants may apply online at disasterloan.sba.gov/ela, call 800-659-2955 or email [email protected]. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
