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SBA drought loans available for Winona, Wabasha counties

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The U.S. Small Business Administration announced Wednesday that federal economic injury disaster loans are available to small businesses, small agricultural cooperatives and most private nonprofit organizations of all sizes in Winona and Wabasha counties.

The relief is prompted by a drought that began March 1.

Farmers and ranchers are not eligible to apply to SBA, but nurseries are.

Eligible small businesses and nonprofits may qualify for loans of up to $2 million at a 4 percent interest rate. The SBA determines eligibility.

Disaster loan information and application forms can be obtained by calling the 1-800-659-2955 between 8 a.m. and 9 p.m. Monday through Saturday.

Loan applications may also be downloaded from the SBA's Web site at www.sba.gov/services/ disasterassistance.

Completed applications should be mailed no later than May 25 to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas.

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