Del. businesses hit by drought can apply for loans

September 8, 2012 6:55:28 AM PDT
The U.S. Small Business Administration says most small businesses and private non-profits in Delaware's Sussex County may apply for disaster loans.

The loans are being made available because of the drought and excessive heat that hit the area starting last spring.

Small businesses, agricultural cooperatives, businesses engaged in aquaculture and most private non-profit organizations are eligible to apply.

Loan amounts can be up to $2 million. The interest rate is 3 percent for non-profit organizations and 4 percent for small businesses.

The SBA says loan applications must be returned by May 6.