SBA disaster loans available to Va. localities

AP News
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Posted: Dec 22, 2011 3:51 PM
SBA disaster loans available to Va. localities

Economic injury disaster loans are available to a range of businesses and agricultural operations in 11 Virginia localities as a result of Hurricane Irene in August.

The Virginia Department of Consumer Services says the loans are intended for small businesses and agricultural cooperatives, small-scale aquaculture operations and most private non-profit organizations of all sizes.

The Small Business Administration's disaster declaration includes the counties of: Brunswick, Charlotte, Dinwiddie, Greensville, Lunenburg, Mecklenburg, Nottoway, Prince Edward, Southampton and Sussex. The city of Emporia is also included.

The financial loses must be a direct result of Irene. Loans can range up to $2 million, with interest rates of 3 percent or 4 percent, depending on the type of application.