March 12 Deadline Approaching In Tennessee For SBA Working Capital Loans Due To Drought
ATLANTA, Feb. 12, 2013 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes that March 12 is the filing deadline for federal economic injury disaster loans available in Tennessee as a result of the drought that began Jun. 19, 2012.
The SBA's disaster declaration includes the following counties: Benton, Carroll, Cheatham, Crockett, Decatur, Dickson, Dyer, Gibson, Haywood, Henderson, Henry, Hickman, Houston, Humphreys, Lake, Lauderdale, Madison, Montgomery, Obion, Perry, Robertson, Stewart and Weakley in Tennessee ; Mississippi in Arkansas and; New Madrid and Pemiscot in Missouri .
"When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to eligible entities affected by the same disaster," said Frank Skaggs, director of SBA's Field Operations Center East in Atlanta.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. Nurseries are eligible to apply for economic injury disaster loans for losses caused by drought conditions.
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