Deadline approaching for drought-related loan applications

- Small businesses in some Georgia counties affected by a drought dating back to November 2016 have one more month to apply for federal disaster loans.

The U.S. Small Business Administration says applicants must apply online by July 24. Small businesses, small agricultural cooperatives, small aquaculture businesses and most nonprofits could be eligible for the economic injury disaster loan program.

Agricultural producers, farmers or ranchers aren't eligible for the loan program.

Officials say the loans can be up to $2 million with interest rates of 3.125 percent for eligible small businesses and 2.5 percent for nonprofits. More information is available at the Small Business Administration's web site.


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