Disaster loans available for some businesses in Covington, Geneva counties

(Source: WSFA)
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COVINGTON COUNTY, Ala. (WSFA) -- Economic Injury Disaster Loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations located in Covington and Geneva counties, the U.S. Small Business Administration announced Wednesday.

The SBA said the loans are available as a result of drought that began Oct. 1. Under the declaration, the loan program is available to eligible farm-related and non-farm-related entities that suffered financial losses as a direct result of this disaster.

The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources, and loan amounts are based on each applicant’s financial condition. To apply, visit this link.

With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers and ranchers. Nurseries are eligible to apply for economic injury disaster loans for losses caused by drought conditions.

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