Small businesses and nonprofit organizations across seven Middle Tennessee counties struggling with the financial impact of this fall’s drought may be eligible for up to $2 million in federal disaster assistance through the U.S. Small Business Administration. And, the area includes Moore County.
The SBA announced Tuesday, Nov. 10, that low-interest federal disaster loans are now available to eligible businesses and private nonprofit organizations affected by drought conditions beginning Sept. 22.
The assistance is available in Bedford, Coffee, Franklin, Lincoln, Marshall, Moore and Rutherford counties, providing a potential financial lifeline to businesses and organizations experiencing economic hardship because of the prolonged dry conditions. Under the program, eligible applicants can receive Economic Injury Disaster Loans designed to provide working capital to cover operational expenses resulting from the drought. The loans are available to small businesses, private nonprofit and faith-based organizations, small agricultural cooperatives and nurseries, and small aquaculture enterprises…