<body><div><figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=1EpvCR_1H52bkwF00" alt="https://img.particlenews.com/image.php?url=1EpvCR_1H52bkwF00" width="2048" height="1638" ></figure>Small businesses and nonprofit organizations across seven Middle Tennessee counties struggling with the financial impact of this fall’s drought may be eligible for up to $2 million in federal disaster assistance through the U.S. Small Business Administration. And, the area includes Grundy County.The SBA announced Tuesday, Nov. 10, that low-interest federal disaster loans are now available to eligible businesses and private nonprofit organizations affected by drought conditions beginning Sept. 22.The assistance is available in Bedford, Coffee, Franklin, Lincoln, Marshall, Moore and Rutherford counties, providing a potential financial lifeline to businesses and organizations experiencing economic hardship because of the prolonged dry conditions. Under the program, eligible applicants can receive Economic Injury Disaster Loans designed to provide working capital to cover operational expenses resulting from the drought. The loans are available to small businesses, private nonprofit and faith-based organizations, small agricultural cooperatives and nurseries, and small aquaculture enterprises.According to the SBA, eligible applicants may qualify for loans of up to $2 million, with interest rates as low as 4% for small businesses and 3.625% for private nonprofit organizations. Loan terms may extend up to 30 years, providing borrowers with additional f lexibility as they work to recover f rom the economic effects of the drought.One significant feature of the assistance program is that borrowers will not be required to make payments or pay interest during the first 12 months following the disbursement of their loans. Unlike assistance intended to repair physical damage, Economic Injury Disaster Loans are designed to help eligible businesses and organizations meet f inancial obligations and maintain operations when disaster-related conditions disrupt normal business activity.The program could provide needed assistance to businesses and organizations throughout the seven-county region that have experienced financial difficulties related to the drought. Businesses and nonprofit organizations interested in applying have until June 21, 2027, to submit their Economic Injury Disaster Loan applications. Applications can be completed online at w ww.sba.gov/disaster.Those needing additional information or assistance with the application process may contact the SBA National Support Network Center at 866-SBA-HELP or email disastercustomerservice@ sba.gov. Individuals who are deaf, hard of hearing or have a speech disability may dial 711 to access telecommunications relay services.</div></body>

Block Source: Grundy County Herald

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Small businesses and nonprofit organizations across seven Middle Tennessee counties struggling with the financial impact of this fall’s drought may be eligible for up to $2 million in federal disaster assistance through the U.S. Small Business Administration. And, the area includes Grundy County. The SBA announced Tuesday, Nov. 10,...

SBA offers drought relief loans

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Small businesses and nonprofit organizations across seven Middle Tennessee counties struggling with the financial impact of this fall’s drought may be elig

SBA offers drought relief loans

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