I am using today's blog to bring you a press release about the SBA Disaster Loan that will cover economic injury from the drought.  Economic injury is defined as loss of income or increase of expenses when compared to a prior non-disaster timeframe.  As an example, a nursery that has used more water and had some plant loss when compared to previous years is eligible.  So would be a golf course that has had increased green maintenance costs.  As would a car wash that has had a drop in business due to fewer love bugs than in previous years.  Marinas, boat dealers, and fishing camps that have experienced a drop in business due to lower lake levels would also qualify.  The key requirement is to be able to document the economic injury when comparing income and expenses to a prior period.  The press release is self-explanatory and follows.  Note that the deadline to apply is July 2nd.

SBA DISASTER LOAN ASSISTANCE AVAILABLE
SMALL BUSINESS IMPACTED BY THE CURRENT DROUGHT ARE ENCOURAGED TO APPLY
BY JULY 2


Florida Emergency Management officials are encouraging business owners
to apply for U.S. Small Business Administration (SBA) economic injury
disaster loans which are available to small businesses located in the
counties of Alachua, Baker, Bradford, Brevard, Clay, Columbia, Flagler,
Gilchrist, Highlands, Indian River, Lake, Levy, Marion, Okeechobee,
Orange, Osceola, Polk, Putnam, Seminole, Union and Volusia.
      
While SBA's original disaster declaration was issued as a result of an
earlier drought event,  March 1, 2006, the application period is still
open so we're encouraging businesses hit by the current 2007 drought to
apply, said Acting Recovery Chief  Marcia Chiricos, of the Florida
Division of Emergency Management.
      
Completed loan applications must be returned to SBA no later than July
2, 2007.
      
Under this current declaration, SBA's Economic Injury Disaster Loan
(EIDL) program is available to farm-related and nonfarm-related, small
business concerns and small agricultural cooperatives that suffered
economic injury as a direct result of this disaster.  Farmers and
ranchers are not eligible to apply to SBA, but nurseries are eligible to
apply for economic injury caused by drought conditions.
      
Eligible small businesses may qualify for loans up to $1.5 million.  
These loans are available at a 4 percent interest rate with loan terms
up to 30 years.  SBA determines eligibility for the program based on the
size and type of business and its financial resources.  Loan amounts and
terms are set by SBA and are based upon each applicant?s financial
condition.  Under this disaster declaration, SBA cannot provide loans to
agricultural producers.
      
Interested business owners should contact SBA?s Customer Service Center
by calling 1-800-659-2955 (1-800-877-8339 for the hearing-impaired),
Monday through Friday from 8 a.m. to 9 p.m.; Saturday and Sunday from 9
a.m. to 3 p.m. EDT.   Business loan applications can also be downloaded
from the SBA's website at www.sba.gov/services/disasterassistance .
Completed applications should be mailed to: U.S. Small Business
Administration, Processing and Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.