COLUMBUS - 

State Senator Bill Beagle (R-Tipp City) announced the availability of federal disaster assistance loans for small businesses in Darke and Preble counties as a result of excessive rain and flooding that occurred throughout spring and summer.

“Small businesses and the agriculture industry are a vital part of our community and our economy,” said Beagle. “These loans and their availability to business owners in Darke and Preble Counties will be able to provide relief to some of those hit hardest by the weather this summer.”

Federal assistance is available to eligible farm-related and non-farm entities that suffered financial losses as a direct result of the disaster. With the exception of aquaculture enterprises, the U.S. Small Business Administration (SBA) can not provide disaster loans to agriculture producers, farmers or ranchers. 

Loans of up to $2 million with interest rates of 2.65 percent for private nonprofit organizations and 4 percent interest for small businesses, with terms up to 30 years, are available for eligible applicants. Eligibility is determined based on the size of the applicant, type of activity and its financial resources. 

Disaster assistance is available for the following counties in Ohio: Butler, Darke, Defiance, Hamilton, Mercer, Paulding, Preble and Van Wert. 

Applicants can learn more and apply online using the Electronic Loan Application (ELA) through the SBA website at http://disasterloan.sba.gov/ela or mail a completed application to the following address:
 

U.S. Small Business Administration
Processing and Disbursement Center
14925 Kingsport Road
Fort Worth, TX 76155


Applications must be submitted no later than April 12, 2016

 
 
 
  
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