Disaster Assistance Made Available from Droughts

The majority of the Braozs Valley's small, non-farm businesses can now apply for low-interest disaster loans through the Small Business Administration.

The loans can go towards offsetting economic losses due to the droughts earlier this year.

In Montgomery and Walker Counties, the applications can be made for losses starting on February 1.

For Brazos, Burleson, Grimes, Leon, Madison, Robertson, Waller and Washington Counties, those applications would be for losses starting on January 1.

"Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage," said Alfred Judd, the director of the SBA's Disaster Field Operations Center - West in a press release. "These 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."

The SBA is directing any farming and ranching businesses to the Farm Services Agency or the US Department of Agriculture is see about availability of assistance. In drought disasters, nurseries are eligible for SBA assistance, according to the agency.

For more information, you can find a link for the SBA's disaster assistance page: http://www.sba.gov/services/disasterassistance, or call tolll-free at (800) 659-2955.


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