Tue., September 25, 2012 7:32am (EDT)

Federal Drought Aid Expands In Ga.
By Associated Press
Updated: 2 years ago

ATLANTA  —  
The U.S. Small Business Administration has extended its disaster loan program to Bartow, Chattooga, Floyd, Gordon, Polk and Walker counties. The loans cover fixed costs such as payroll and scheduled debt payments. (Photo Courtesy of <a href=http://www.freefoto.com/>Ian Britton via FreeFoto.com</a>.)
The U.S. Small Business Administration has extended its disaster loan program to Bartow, Chattooga, Floyd, Gordon, Polk and Walker counties. The loans cover fixed costs such as payroll and scheduled debt payments. (Photo Courtesy of Ian Britton via FreeFoto.com.)
The U.S. Small Business Administration has extended its disaster loan program to six more Georgia counties affected by drought.

The loans target farm-related and other entities not covered by aid from the Department of Agriculture. Based on conditions since late July, the newly eligible counties are Bartow, Chattooga, Floyd, Gordon, Polk and Walker. Last month, SBA declared 12 other counties eligible for aid.

The loans cover fixed costs such as payroll and scheduled debt payments. They are capped at $2 million with terms up to 30 years. Interest rates are 3 percent for non-profits and 4 percent for small businesses. The SBA determines the amounts and specific terms.

More information for potential applicants is available 800-659-2955 or www.sba.gov.

The application deadline for six new counties is May 20, 2103.