Deadline Approaching to Apply for Federal Drought Assistance

By: Associated Press
By: Associated Press

MONTGOMERY, Ala. (AP) -- The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives and non-profit organizations that Sept. 9 is the last day to file for federal disaster loans as a result of economic injuries from the drought that began in November.

The SBA says the loans are available in Autauga, Barbour, Bullock, Calhoun, Chambers, Cherokee, Chilton, Clay, Cleburne, Coosa, Crenshaw, Dale, Elmore, Henry, Houston, Lee, Lowndes, Macon, Montgomery, Pike, Randolph, Russell, St. Clair, Shelby, Talladega and Tallapoosa counties.

The disaster loans can up to $2 million with interest rates at 4 percent for small business and 3 percent for non-profits.

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