Southeast Missouri businesses eligible for disaster loans

Small agricultural cooperatives, small businesses and private, not-for-profit organizations in Cape Girardeau, Perry and Scott counties are among those in Missouri eligible for federal economic injury disaster loans, the U.S. Small Business Administration announced Tuesday.

The program is open to Missouri businesses, co-ops and not-for-profit organizations that suffered financial losses as a result of excessive rainfall and flooding since Jan. 1. Farmers and ranchers are not eligible.

The deadline to apply for the loans is March 11.

In addition to Cape Girardeau, Perry and Scott counties, the other counties eligible to receive aid are Clark, Jefferson, Lewis, Lincoln, Marion, Mississippi, Pike, Ralls, St. Charles, St. Louis and Ste. Genevieve. The city of St. Louis is also eligible.

Eligible businesses may qualify for the Small Business Administration loans of up to $2 million. Available at a 4 percent interest rate, these loans have terms up to 30 years.

The Small Business Administration determines eligibility based on the size of the applicant's organization, type of activity and financial resources.

On Feb. 28, U.S. Secretary of Agriculture Ed Schafer issued a declaration for disaster in drought-stricken areas of Illinois. Missouri's counties are eligible for the loans because they are near one or more primary counties in neighboring Illinois.

"The Small Business Administration recognizes that disasters do not usually stop at county or state lines," said Frank Skaggs, director of the Small Business Administration's Field Operations Center East. "For that reason, counties adjacent to primary counties named in the declaration are included.

"When the secretary of agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to assist small businesses and most private, non-profit organizations affected by the same disaster."

Disaster victims eligible for the loans should call 800-659-2955 from 7 a.m. to 8 p.m. Monday through Friday and 8 a.m. to 8 p.m. Saturday and Sunday, or e-mail disastercustomerservice@sba.gov. Loan applications can also be downloaded at www.sba.gov/services/disasterassistance or disasterloan.sba.gov/ela/. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas, 76155.

bblackwell@semissourian.com

335-6611, extension 137