SBA Declares County Disaster, Offering Loans - 8 News NOW

SBA Declares County Disaster, Offering Loans

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LAS VEGAS -- The Small Business Administration is offering assistance to small business owners in Nevada who were economically impacted by the severe thunderstorm and flooding Sept. 11.

Under its own authority, the SBA declared a disaster after receiving a request from Nevada Gov. Brian Sandoval.

The SBA is offering low-interest loans to qualifying businesses in Clark, Nye and Lincoln counties in Nevada; Mohave County in Arizona; and Inyo and San Bernardino counties in California.

"The U. S. Small Business Administration is strongly committed to providing the most effective and customer-focused response possible to assist Nevada's small businesses with federal disaster loans," SBA Administrator Karen Mills said. "We will be swift in our efforts to help these small businesses recover from the financial impacts of this disaster."

Eligibility is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4 percent for small businesses and 3 percent for private, nonprofit organizations with terms up to 30 years, and are restricted to small businesses without the financial ability to offset the adverse impact without hardship.

Applicants may apply online using SBA's secure website at https://disasterloan.sba.gov/ela.

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