Deadline Nears for Arkansas Businesses to Apply for SBA Loans

Arkansas small businesses have three weeks left to apply for U. S. Small Business Administration loans because of the drought that began last July.

The agency announced Monday that small, nonfarm businesses in 27 counties have until Aug. 11 to apply for an Economic Injury Disaster Loan.

The loans are to offset economic losses due to reduced revenues to farmers and ranchers caused by the drought that began July 16, 2013.

The agency says loan eligibility covers both the economic impacts on businesses dependent on farmers and ranchers who have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster.