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Deadline for Small Business Administration drought loans approaching

FRANKFORT, Ky. (Feb. 18, 2013) – The U.S. Small Business Administration (SBA) is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes that March 12 is the filing deadline for federal economic injury disaster loans available in Kentucky as a result of the drought that began June 19, 2012.

“The availability of this assistance is important to Kentucky’s small businesses and communities impacted by last year’s drought,” said Gov. Steve Beshear. “I hope that all who are eligible will take advantage of this opportunity.”

Above-referenced business types in the following counties are eligible to access the SBA’s Economic Injury Disaster Loan program: Ballard, Breckinridge, Butler, Caldwell, Calloway, Carlisle, Christian, Crittenden, Daviess, Edmonson, Fulton, Graves, Grayson, Hancock, Henderson, Hickman, Hopkins, Livingston, Logan, Lyon, Marshall, McCracken, McLean, Muhlenberg, Ohio, Simpson, Todd, Trigg, Union, Webster and Warren.

Loans through this program can be up to $2 million with interest rates as low as 4 percent for eligible small businesses and 3 percent for nonprofit organizations with terms up to 30 years. Detailed disaster loan information and application forms may be obtained by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing) or by sending an email to [email protected].

Applicants may also apply online, no later than March 12, using the Electronic Loan Application (ELA) via SBA’s secure website at disasterloan.sba.gov/ela.