10 am: 63°FSunny

12 pm: 67°FSunny

2 pm: 71°FSunny

4 pm: 70°FSunny

More Weather

Print | E-mail to a friend FEATURED

Small business disaster loans available in Wayne, Cabell

December 07, 2007 @ 12:08 AM

The Herald-Dispatch

WASHINGTON, D.C. -- U.S. Rep. Nick Rahall, D-W.Va., announced Thursday that federal disaster loans from the Small Business Administration are now available to small businesses in Cabell and Wayne Counties for recovery from damages caused by drought and high temperatures beginning April 15, 2007.

Under the declaration, the Administration's Economic Injury Disaster Loan program is available to farm-related and nonfarm-related small business concerns and small agricultural cooperatives that suffered economic injury as a result of this disaster.

Eligible small businesses may qualify for loans of up to $1.5 million. These loans are available at a 4 percent interest rate with loan terms of up to 30 years. The Administration determines eligibility for the program based on the size and type of business and its financial resources.

Interested business owners should contact the Administration's Customer Service Center by calling (800) 659-2955, from 8 a.m. to 9 p.m. Monday through Friday and 9 a.m. to 5:30 p.m. Saturday.

Loan applications can also be downloaded from the Administration's Web site at www.sba.gov/services/ disasterassistance.

Completed loan applications must be returned to the SBA no later than July 28, 2008.