SBA Pledges Tornado Help
The Small Business Administration announced that it will make disaster loans available for businesses in Hampden and Worcester counties that were affected by the recent tornadoes.
Businesses and nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. The SBA said it has both physical and economic injury disaster loans available.
Interest rates for businesses are 4 percent and higher with terms up to 30 years.
For more information, call 800-621-3362.
In related tornado relief news, customers at Stop & Shop grocery stores across the state today will be asked if they would like to contribute money to help the Massachusetts victims of the tornadoes.
Stop & Shop, which is headquartered in Quincy and has more than 390 stores on the east coast, said that any donations received today and in the weeks leading up to July 4 will go directly to American Red Cross efforts in Central and Western Massachusetts, the regions that were hit by tornadoes.
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