SBA loans available for ag businesses
This summer's drought not only created hardships for area farmers, but also the businesses that serve them. The Small Business Administration says disaster loans have been made available in some eastern Minnesota counties because of the drought that began earlier this year. The affected counties are Winona, Wabasha, Goodhue, Carlton, Chisago, Pine, St. Louis and Washington. Those counties are eligible because they're next to Wisconsin counties where the U.S. Department of Agriculture issued a disaster declaration. The SBA says its federal economic injury disaster loans are available to small businesses, small agricultural cooperatives and most private nonprofits of all sizes. Farmers and ranchers are not eligible to apply to the SBA, but nurseries are eligible for losses caused by drought. The application deadline is May 25, 2010.
