Small businesses impacted by the drought in 11 northwestern Iowa counties can now apply for low-interest federal disaster loans from the U.S. Small Business Administration.
SBA spokesman Mark Randle says there’s a wide range of businesses that are now eligible for the help.
“This could be a business that’s dependent on the farming and ranching businesses, someone that maybe does ground prep or does anything related and they’re dependent on the farming and ranching businesses, and because of the drought, they’re not being called on for their services,” Randle says. “It’s also for non-farm businesses. It doesn’t cover the actual farming and ranching businesses. They are covered under U.S.D.A. programs.”
Small businesses that qualify for the Economic Injury Disaster Loans may be able to get up to $2 million to help meet their financial obligations.
Randle says eligibility for the loans is only based on the financial impact of the disaster and not on property damage.
The 11 counties covered under the program are Buena Vista, Calhoun, Clay, Dickinson, Emmet, Humboldt, Palo Alto, Pocahontas, Kossuth, Sac and Webster.