Deadline nears in Alabama for disaster loans due to drought - WAFF-TV: News, Weather and Sports for Huntsville, AL

Deadline nears in Alabama for disaster loans due to drought

MONTGOMERY, Ala. (AP) - Small businesses, agricultural cooperatives, aquaculture businesses and most private nonprofit organizations have until Aug. 8 to file for federal economic injury disaster loans in Alabama as a result of the drought that began Nov. 29, 2016.

The U.S. Small Business Administration's loan program covers working capital and can be up to $2 million with interest rates of 3.125 percent for eligible small businesses and 2.5 percent for nonprofit organizations.

The disaster declaration includes: Baldwin, Butler, Clarke, Conecuh, Covington, Escambia, Mobile, Monroe and Washington counties in Alabama.

Applicants may apply online via SBA's secure website at https://disasterloan.sba.gov/ela or by calling the SBA's Customer Service Center at 800-659-2955.

Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas 76155.

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