“A recent action by the Secretary of Agriculture has made small businesses in some Washington counties, including Pierce County, eligible for low interest SBA loans to offset economic losses from reduced revenue to farmers and ranchers caused by adverse weather conditions that occurred from September 1, 1998 through May 31, 1999. Small non-farm businesses, including Main Street businesses, and small agricultural cooperatives reportedly may qualify for SBA disaster loans to offset the adverse economic impact. Economic Injury Disaster Loans of up to $1.5 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred, are available. Eligibility for the working capital loans is based on the financial impact of the disaster only and not on actual property damage. The loans have an interest rate of 4 percent, a maximum term of 30 years, and are restricted to businesses without the financial ability to offset the adverse impact without hardship. Enterprises primarily engaged in farming or ranching are ineligible for disaster assistance under the declaration. Assistance may be available for those impacted through the Farm Service Agency. Information and application forms may be obtained by writing to the SBA at P.O. Box 13795, Sacramento, CA 95853-4795 or by calling 1-800-488-5323, or hearing impaired at 1-916-566-7388. All applications for economic injury must be returned to the SBA no later than October 23, 2000.”
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