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COMPENSATION LOANS FOR ’89 DROUGHT AVAILABLE

SHARE COMPENSATION LOANS FOR ’89 DROUGHT AVAILABLE

Small business owners in all of Utah's counties can still apply for financial assistance from the Small Business Administration because of the drought in 1989, according to Stan Nakano, SBA director in Utah.

Eligible applicants may qualify for working capital loans of up to $500,000 to meet financial obligations that would have been met had the drought not occurred. Loan terms will be based upon the ability of each applicant to repay the loan with a maximum of 30 years.The interest rate for all loans approved under this disaster designation is 4 percent.

All interested business owners can obtain loan application packages and information on filing deadlines by writing SBA, P.O. Box 13795, Sacramento, CA 95853-4795, or by calling the toll-free number 1 (800) 468-1710 during normal business hours.