Neighboring counties may apply for SBA assistance

Small businesses in Jasper and Tyler counties many not apply for low interest disaster loans from the U.S. Small Business Administration (SBA).

"These loans offset economic losses because of reduced revenues caused by drought in the counties of Angelina, Freestone, Limestone and Trinity beginning April 1," announced Alfred E. Judd, Director of SBA's Disaster Field Operations Center-West.

Seventeen neighboring counties can also apply for the loans and include Anderson, Cherokee, Falls, Henderson, Hill, Houston, Leon, McLennan, Nacogdoches, Navarro, Polk, Robertson, San Augustine, San Jacinto and Walker counties.

Small businesses may qualify for Economic Injury Disaster Loans (EIDLs) of up to $1.5 million to help meet financial obligations and operating expenses, which could have been met, had the disaster not occurred.

Judd said the loans have an interest rate of four percent, a maximum term of 30 years and are restricted to small businesses without the financial ability to offset the adverse impact without hardship.

Businesses primarily engaged in farming and ranching are ineligible for SBA disaster assistance.

For information and application forms, call toll-free (800) 659-2955 or visit SBA's website at www.sba.gove/services/disasterassistance.

The deadline to file for these loans is Aug. 20.