Pickens County small businesses to get aid



By Ginny Johnson

Staff Writer

High temperatures and drought since January are the basis for federal disaster loans being made available to local small businesses.

Pickens County is among 11 counties statewide to qualify for the loans of up to $1.5 million per business.

The loans are issued at an interest rate of four percent for up to 30 years, according to a release by the U.S. Small Business Association.

"These counties are eligible because they are contiguous to one or more primary counties in the state of North Carolina," said Frank Skaggs, director of the SBA Field Operations Center East.

"The Small Business Administration recognizes that disasters do not usually stop at county or state lines," Skaggs said. "For that reason, counties adjacent to primary counties named in the declaration are included."

The declaration allows loans to be issued to farm- and non-farm related businesses and small agricultural cooperatives that suffered financial losses as a direct result of the disaster, the release said.

Farmers and ranchers are not eligible to apply but nurseries are eligible to apply for economic injury disaster loans for losses caused by drought conditions.

Eligibility is determined by the SBA based on the type and size of the business as well as its financial resources. Loan amounts and terms are set accordingly.

The declaration prohibits loans to agricultural producers.

The deadline for applications to be returned is not later than May 12, 2008.

For more information, call 1-800-659-2955 or to obtain an application, visit www.sba.gov/services/disasterassistance.