Ashtabula County businesses that suffered economic losses due to frosts and freezes that struck the area last spring may be eligible for assistance from the U.S. Small Business Administration, according to a statement from the office of U.S. Sen. Sherrod Brown.
Disaster loans are available to people in Ashtabula, Cuyahoga, Geauga, Lake, Portage, Summit and Trumbull counties. Deadline to apply is May 6.
The SBA’s Economic Injury Disaster Loan program is available for eligible farm and non-farm entities that suffered financial losses as a direct result of the weather. Loan amounts may be up to $2 million with a 3 percent interest rate for non-profit organizations and 4 percent for small businesses with terms up to 30 years.
At issue is adverse weather that struck the region between March 1 and May 31 last year. The agriculture business, fruit-growers in particular, suffered significant losses.
Disaster loan information and application forms are available by calling the SBA’s customer service center at 800-659-2955 (800-877-8339 for deaf/hearing impaired) or via e-mail at firstname.lastname@example.org. Loan applications are available at www.sba.gov.