WASHINGTON, D.C. – U.S. Sen. Sherrod Brown (D-OH) today alerted Ohio small businesses, agricultural cooperatives, and private nonprofit organizations in the Buckeye Lake Region to federal loan assistance through the U.S. Small Business Administration (SBA) for economic injury caused by Buckeye Lake’s low water levels, which have caused decreased tourism activity and revenue at the Lake. These low-interest disaster loans are available to Athens, Coshocton, Delaware, Fairfield, Franklin, Hocking, Knox, Licking, Morgan, Muskingum, Perry and Pickaway Counties.
“These lending opportunities could provide much needed relief to businesses in and around the Buckeye Lake region and give them the economic tools to adjust to potential temporary decreased tourism in the area,” said Brown. “Businesses in this region are critical to central Ohio’s economy and this assistance is another tool to help businesses in the region during the construction of the new dam.”
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.