Loans available for Virginia businesses hit by drought

Small Business Association makes announcement

AP News
February 14, 2020 - 10:19 am
Money

(WRVA News Staff)

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RICHMOND, Va. (AP) — The U.S. Small Business Administration has announced that loans are available to Virginia small businesses, agricultural cooperatives, and private nonprofit organizations as a result of a drought that began in August.

The SBA said in a news release that loans are available in more than three dozen counties and cities, including Richmond, Fredericksburg, Henrico, Loudoun and Westmoreland.

Under the declaration, the SBA's Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers and ranchers.