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Sunday, November 24, 2024

Five Southwest Michigan counties eligible for economic disaster loans from SBA

Loan repayment

Five southwest Michigan counties can apply for Economic Injury Disaster Loans from the U.S. Small Business Administration as a result of the unusually rainy spring.

According to a WTVB news report, the counties include Berrien, Branch, Cass, Hillsdale and St. Joseph counties, all located near Indiana. An Administrative Declaration of a Disaster for the state of Indiana was issued by the Small Business Administration (SBA) in June.

The Michigan State University Extension Service weather gauge at the Bloom Dairy Farm, located west of Coldwater, measured more than 15 inches of rain between March 1 and June 30, the report states.

To be eligible for EIDL assistance, small businesses or private nonprofit organizations must have sustained economic injury and be located in a disaster declared county or contiguous county, according to the SBA website.

Local businesses that have seen losses due to the inordinate rain and flooding can apply for this economic assistance.

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