Disaster Loans For Local Counties

The Small Business Administration is offering low interest loans to small businesses and most private non-profit organizations that suffered losses during those extreme freezing conditions in January.

The Federal Economic Injury Disaster Loans are available to small businesses, small agricultural cooperatives, aquaculture businesses and non-profits covered by the disaster declaration due of freeze and frost from January 7 through January 31.

That includes Bay, Holmes, Okaloosa, Walton and Washington counties in our area.

Private non-profit organizations can receive loans up to $2 million, with 2.625 percent interest rates for up to 30 years. Private businesses will pay 4 percent interest.

They can use the money to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.

For more information and application forms call the SBA's customer service center at 800-659-2955.

The deadline to apply is December 16, 2014