Et cetera : Disaster Assistance Available for Small Businesses

Small, nonfarm businesses in 60 Iowa counties and neighboring counties in Illinois, Missouri, Nebraska and South Dakota are now eligible to apply for low-interest disaster loans from the U. S. Small Business Administration (SBA). "These loans offset economic losses because of reduced revenues caused by the combined effects of severe storms, excessive rain, flooding, flash flooding, hail, high winds, lightning, tornadoes, landslides, mudslides, excessive heat and drought that occurred in the following 27 primary Iowa counties beginning April 1, 2011," announced Alfred E. Judd, Director of SBA's Disaster Field Operations Center-West.

Primary Iowa counties: Clarke, Davis, Decatur, Fremont, Henry, Jefferson, Jones, Keokuk, Lee, Linn, Louisa, Lucas, Mahaska, Marshall, Mills, Monona, Monroe, Montgomery, Page, Polk, Tama, Taylor, Van Buren, Wapello, Washington, Wayne and Woodbury;

Neighboring Iowa counties: Adams, Appanoose, Benton, Black Hawk, Boone, Buchanan, Cass, Cedar, Cherokee, Clinton, Crawford, Dallas, Delaware, Des Moines, Dubuque, Grundy, Hardin, Harrison, Ida, Iowa, Jackson, Jasper, Johnson, Madison, Marion, Muscatine, Plymouth, Pottawattamie, Poweshiek, Ringgold, Story, Union and Warren;

Neighboring Illinois counties: Hancock, Henderson, Mercer and Rock Island;

Neighboring Missouri counties: Atchison, Clark, Harrison, Mercer, Nodaway, Putnam, Schuyler, Scotland and Worth;

Neighboring Nebraska counties: Burt, Cass, Dakota, Otoe, Sarpy and Thurston;

Neighboring South Dakota county: Union.

"SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster," Judd said.

Small, nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private, nonprofit organizations of any size may qualify for Economic Injury Disaster Loans (EIDLs) of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.

"Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4% for businesses and 3% for private, nonprofit organizations, a maximum term of 30 years, and are available to small businesses and most private, nonprofits without the financial ability to offset the adverse impact without hardship," Judd said.