SBA Loans Available For Van Buren, Allegan Counties

Some businesses in Allegan and Van Buren counties will be able to obtain Economic Injury Disaster Loans through the U.S. Small Business Administration due to heavy rains that soaked parts of the state between August 26 and September 6 of last year. The SBA says the loans are being made available to small businesses, small agricultural cooperatives, and small businesses engaged in aquaculture along with private nonprofit organizations. The program is for eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of the disaster. Loan amounts are for up to $2 million with 2.5% interest for private nonprofits and 3.675% for small businesses, with terms up to 30 years.