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Small businesses can seek loans for May flooding - WCAX.COM Local Vermont News, Weather and Sports-

Small businesses can seek loans for May flooding

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MONTPELIER, Vt. (AP) - Eligible Vermont small businesses have until July 21 to file for federal disaster loans for losses from the excessive rain and flooding in May.

The U.S. Small Business Administration says federal economic injury disaster loans are available to businesses and nonprofits in all 14 counties.

The SBA says the loans can be for up to $2 million with interest rates of 4 percent for small businesses and 2.8 percent for nonprofit organizations.

SBA says it cannot provide disaster loans to agricultural producers, except aquaculture enterprises.

For more information call 1-800-659-2955 or apply online using the electronic loan application on the SBA's website at https://disasterloan.sba.gov/ela .

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