The 37 counties eligible to apply for this assistance are: Adair, Adams, Audubon, Buena Vista, Carroll, Cass, Cherokee, Clarke, Clay, Crawford, Decatur, Dickinson, Emmet, Fremont, Guthrie, Harrison, Humboldt, Ida, Kossuth, Lucas, Lyon, Mills, Monona, Montgomery, O'Brien, Osceola, Page, Palo Alto, Plymouth, Pocahontas, Pottawattamie, Ringgold, Shelby, Sioux, Taylor, Union and Wayne.
The loans are available to help businesses meet normal operating expenses that can not be met due to the effect of high winds, cold spring temperatures, grasshopper infestation, extreme heat, hail and drought conditions that have occurred since Sept. 1, 2001 in these counties. Many farmers and ranchers have experienced reduced incomes which may have had an adverse economic effect on area businesses.
"Farmers have been hit hard by the bad weather of the past year and the effect has reached the small businesses in these areas. These loans will help small businesses meet their obligations so that they are not another victim of the bad weather of the past year," Grassley said.
The loans are to help businesses meet installments on long-term debt, accounts payable and overhead expenses that would have been met if the disaster not occurred. Loans are available for up to $1,500,000 for actual disaster-related financial needs of businesses. Interest rates are four percent and terms may extend to 30 years.
To obtain an application or receive additional information, interested business owners may call the Small Business Administration at 1-800-366-6303. The deadline for filing an application is June 23, 2003.