May 13 Deadline Approaching In Wisconsin For SBA Working Capital Loans Due To Drought
ATLANTA, April 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 May 13 is the filing deadline for federal economic injury disaster loans. These loans are available in Wisconsin as a result of the drought that occurred July 17 through Sept. 10, 2012.
This disaster declaration includes the following counties: Adams, Columbia, Crawford, Green Lake, Jackson, Juneau, LaCrosse, Marquette, Monroe, Portage, Richland, Sauk, Vernon, Waupaca, Waushara, Winnebago and Wood in Wisconsin and the contiguous County of Allamakee in Iowa.
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.
The working capital loan amount can be up to $2 million with interest rates as low as 4 percent for eligible small businesses and 3 percent for non-profit organizations with terms up to 30 years.
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