On Sep. 16, SBA made working capital loans available in Kentucky.
SBA reported working capital loans are available in Kentucky following May 26 tornado.
Economic injury disaster loans (EIDL) for Secretary of Agriculture disaster declaration.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations with economic losses .
Secretary of agriculture declared event to be disaster due to farmers’ crop losses.
Follows FEMA, White House Jul. Aug, 2024 aid for the May 26 disaster, see #220583.
Eligibility
Eligible counties include Hopkins, Caldwell, Christian, McLean, Muhlenberg, Webster.
EIDL program is available to eligible farm-related and nonfarm-related entities.
That suffered financial losses directly due to storm; apart from aquaculture enterprise, SBA can not provide disaster loans to agricultural producers, farmers, ranchers.
Eligibility is based on the size of the applicant, type of activity, its financial resources.
EIDL may be used to pay fixed debts, payroll, accounts payable, other bills that could have been paid had disaster not occurred; not intended to replace lost sales or profits.
Application Deadline
Submit completed loan applications to SBA no later than May 5, 2025.
