Drought loans available to nonfarm firms

Small, nonfarm businesses in Marion County are eligible for low-interest loans to offset reduced revenue caused by drought.

Nearly two dozen counties in Kansas and Missouri were declared eligible last week for the Small Business Administration loans. They are designed to benefit businesses impacted by reduced sales to farmers and ranchers.

Up to $2 million is available per borrower for a maximum of 30 years at an interest rate of 3.04% for businesses and 1.875% for private nonprofits.

Businesses engaged in farming or ranching are not eligible, but nurseries are.

Applications are available at (800) 659-2955, disastercustomerservice@sba.gov, and https://disasterloanassistance.sba.gov. Deadline is May 8.