Businesses Hurting from Heat Eligible for Low-Interest Loans

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JEFFERSON CITY - Missouri businesses directly impacted by the triple-digit temperatures this summer are eligible for low-interest loans through the U.S. Small Business Administration.

Small non-farm businesses, non-profit organizations and agricultural cooperatives are eligible for up to $2 million for expenses caused by high temperatures and drought.

Mark Randel, public information officer, said that although the loans are not directly for farming businesses, they are for businesses affected by the farming industry, such as harvesters. Randel said the loans are also for businesses affected directly by the drought, such as landscapers. 

There is a four percent interest rate for small businesses and three percent for private, non-profits. 

An application can be found on the U.S. Small Business Administration website.