SBA offering disaster loans to Delaware farmers
A summer heat wave in New Jersey may have had an impact on First State farmers and farm related businesses.
For that reason, the Small Business Administration is making federal Economic Injury Disaster Loans available for up to $2 million dollars.
“These weather events don’t stop at county lines so we include those counties that are adjacent or contiguous to the counties that are declared.," said SBA spokesman Matthew Young.
Young adds loans are available to small businesses, small agricultural cooperatives, businesses engaged in aquaculture and most private nonprofit organizations in Delaware.
“These small businesses in the community that are maybe farm related or do business with farmers may have suffered economically because the farmers are not spending like they normally would and then their businesses are suffering,” Young said.
These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.