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Small Business Loans Available In Disaster Areas

July 16, 2014, 6:01 AM

Small Business Loans Available In Disaster Areas

Low-interest Small Business Administration loans are available to South Dakotans hit by flooding or a tornado.

SBA has issued a disaster declaration for homes and businesses damaged June 13-20.

That makes low-interest loans available in the primary counties of Jerauld and Lincoln, as well as neighboring counties of Buffalo, Hand, Beadle, Sanborn, Aurora, Brule, Minnehaha, Turner, Clay and Union.

People may visit SBA outreach centers starting Wednesday in Wessington Springs and Canton, and Monday in Elk Point.

Disaster loans up to $200,000 are available to homeowners for real estate. Homeowners and renters are eligible for up to $40,000 for personal property. And businesses may borrow up to $2 million for real estate, machinery and equipment, inventory and other business assets.

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