U.S. Small Business Administration Offering Economic Injury Disaster Loans in Clark County
Thursday, December 8th, 2016 -- 7:41 AM
-The U.S. Small Business Administration announced today that federal Economic Injury Disaster Loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations located in Wisconsin as a result of the frost and freezing temperatures on May 13th-18th of this year.The SBA’s disaster declaration includes Clark County as well as our neighboring counties of Chippewa, Eau Claire, Jackson, Wood and Taylor. Several other counties are included as well. Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers or ranchers.
The loan amount can be up to $2 million with interest rates of 2.625 percent for private nonprofit organizations and 4 percent for small businesses, with terms up to 30 years.
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