Small businesses affected by drought and extreme heat during the second half of last year are eligible for loans from the U.S. Small Business Administration.
Nurseries, agricultural cooperatives and other companies in much of the state, including Middlesex, Norfolk and Worcester counties, can apply for up to $1.5 million in loans. They are available at a 4 percent interest rate with terms up to 30 years.
The SBA said it is providing the loans as a result of the Secretary of Agriculture’s declaration of a disaster affecting farms.
