Deadline for Texas SBA Working Capital Loans approaches

Stephens County resident’s deadline to apply for the Small Business Administration federal disaster loan for economic injury will be Monday, July 6.

These low-interest loans are to offset economic losses because of reduced revenues caused by drought that began Tuesday, Oct. 15, 2019.

“Small non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for Economic Injury Disaster Loans of up to $2 million,” Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West said. “Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable, and other bills that cannot be paid because of the disaster’s impact. SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster.

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