WASHINGTON, D.C. – U.S. Sen. Sherrod Brown (D-OH) today alerted Ashtabula County small businesses and private nonprofit organizations to federal loan assistance through the U.S. Small Business Administration (SBA) to recover from economic injury that occurred due to the drought that began July 19, 2016.
“SBA lending opportunities are a lifeline for Ohio businesses that take a hit out of no fault of their own,” said Brown. “The July drought has been tough for northeast Ohio and it’s important for Ashtabula County businesses to take advantage of this opportunity for financial relief.”
SBA is offering low-interest loans up to $2 million. The rates on these loans are four percent for small businesses and 2.625 percent for nonprofit organizations with terms up to 30 years. Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela or by calling SBA’s Customer Service Center at 1-800-659-2955. Loan applications can also be downloaded from the SBA’s website at www.sba.gov/disaster.
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