SBA working capital drought loan deadline looms

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The U.S. Small Business Administration is reminding small businesses, small aquaculture operations and most private, nonprofit organizations in two southern Indiana counties that May 6 is the filing deadline for federal economic injury disaster loans available because of a drought that began a year ago.

These loans are available in Clark and Harrison counties because they border drought disaster counties in Kentucky.

The working capital loan amount 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.

Applicants may apply online.

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