Small Business Administration loans available due to drought

Photo: WKRN

NASHVILLE, Tenn. (AP) – Some businesses and groups affected by drought this summer in Tennessee have disaster loans available to them.

The U.S. Small Business Administration said in a news release that federal economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations as a result of the drought that began May 31.

Tennessee counties included in the disaster declaration are Bledsoe, Bradley, Grundy, Hamilton, Marion, McMinn, Meigs, Monroe, Polk, Sequatchie, Van Buren and Warren.

The SBA said the loan amount can be up to $2 million and may be used to pay fixed debts, payroll, accounts payable and other bills.

Click here to apply online. For more information, call 800-659-2955.

Applications must be returned no later than March 27.

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