Loans available after flooding
Published 9:40 pm Thursday, January 14, 2016
Small business owners, farmers, nonprofit organizations and others in Suffolk could be eligible to receive disaster loans.
The loans are available as a result of the excessive rain and flooding received from Sept. 24 through Oct. 6.
The U.S. Department of Agriculture issued primary disaster declarations for four Virginia counties — Isle of Wight, Southampton, Surry and Patrick. Twelve localities that border those counties, including Suffolk, are contiguous disaster areas.
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The declaration makes farm operators in both primary and contiguous counties eligible for emergency loan assistance from the Farm Service Agency.
In addition, the U.S. Small Business Administration will have loans available for small businesses, nonprofit organizations, small agricultural cooperatives and small businesses engaged in aquaculture due to the declaration.
The SBA’s Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster.
“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to eligible entities affected by the same disaster,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.
Those applying to the Farm Service Agency have eight months from the date of the disaster declaration to apply for emergency loans. Local FSA offices can provide affected farmers with more information. Visit www.fsa.usda.gov and search for Virginia.
For the Small Business Administration, applications are due by Sept. 6. Applicants can apply online at https://disasterloan.sba.gov/ela.