The U.S. Small Business Administration (SBA) has announced that federal Economic Injury Disaster Loans are available to small businesses in Central Massachusetts that have been impacted by the ongoing drought.
The program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of the drought. The loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and private nonprofit organizations located in Essex, Middlesex and Worcester counties. However, the loans are not available directly to farmers, although nurseries are eligible for the loans.
The working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. Completed loan applications must be returned to SBA no later than April 25, 2017.
