Deadline near to apply for drought relief.
The deadline for filing for federal economic injury disaster loans in Campbell, Claiborne and Scott counties is July 24, the U.S. Small Business Administration said in a news release.
The loans were made available as a result of the 2016 drought in Kentucky.
“These counties are eligible because they are contiguous to one or more primary counties in Kentucky.
Under the declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible farm-related and non-farm-related entities that suffered financial losses as a direct result of the drought.
The loans are for working capital and can be up to $2 million with interest rates of 3.125 percent for eligible small businesses and 2.5 percent for nonprofit organizations, and terms up to 30 years.
Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard of hearing) or by e-mailing to disastercustomerservice @sab.gov.
Completed loan applications must be returned to SBA no later than July 24.
Farmers have eight months from the date of the declaration to apply for emergency loans.
A total of 68 counties in Kentucky were declared disaster areas because of the drought at various dates and 1,670 counties were declared nationally.