Small Business Administration loans available to businesses for drought losses

RIVERSIDE – Small, non-farm businesses in Riverside County that encountered economic losses as a result of California’s drought, are eligible to apply for low-interest loans from the Small Business Administration (SBA). These loans are intended to augment reduced business revenue caused by the drought.

These loans offset economic losses because of reduced revenues caused by the drought in the following primary counties beginning Jan. 1, 2017, announced Director Tanya N. Garfield of SBA’s Disaster Field Operations Center – West.

Primary California counties eligible are Calaveras, Fresno, Inyo, Kern, Kings, Los Angeles, Madera, Mariposa, Merced, Mono, Monterey, Orange, Riverside, San Benito, San Bernardino, San Diego, San Joaquin, San Luis Obispo, Santa Barbara, Santa Clara, Stanislaus, Tulare, Tuolumne and Ventura. Neighboring California counties included are Alameda, Alpine, Amador, Contra Costa, Imperial, Sacramento, San Mateo and Santa Cruz.

“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster,” Garfield said.

Owners of property damaged as a result of the January storms are not eligible for individual assistance.

Small, non-farm businesses with drought-related losses may apply online at https://disasterloan.sba.gov/ela. The deadline for businesses to apply for the SBA loans is Oct. 23.

Leave a Reply

Your email address will not be published.