Federal Loans Available For Oklahoma Businesses Affected By Drought

The U.S. Small Business Administration says small, non-farm businesses in 20 Oklahoma counties are eligible for low-interest federal disaster loans because of the ongoing drought.

The agency announced the loans Tuesday for Oklahoma and for Cherokee County in Kansas and McDonald and Newton counties in Missouri.

Officials say small, non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private, non-profit organizations may qualify for Economic Injury Disaster Loans of up to $2 million. The loans will help businesses and organizations meet financial obligations and operating expenses which could have been met had the disaster not occurred.

The agency makes such loans available when the U.S. Agriculture Secretary designates an agricultural disaster, which Tom Vilsack did on August 8.

The deadline to apply is April 8.