The Small Business Administration has announced that Economic Injury Disaster loans are available in northwest Florida due to the drought conditions that began last month. The declaration includes Escambia and Santa Rosa counties. The program is available to eligible farm-related and non-farm-related entities that have suffered financial loss as a direct result of the drought. The loan amount can be up to $2 million with interest rates of 4% for small businesses and 2.375% for private nonprofit organizations with terms up to 30 years. Applicants can apply online at www.sba.gov/disaster and use reference number 20038.
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