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Business agency: Disaster loans available for drought losses

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Posted at 10:45 PM, Mar 12, 2021
and last updated 2021-03-13 00:45:50-05

PHOENIX (AP) — The U.S. Small Business Administration has announced that small non-farm businesses in all 15 Arizona counties may apply for low-interest federal disaster loans to offset economic losses from drought.

The agency said eligibility includes businesses directly affected by the disaster as well as businesses dependent on farmers and ranches that have suffered agricultural production losses caused by the disaster that began Jan. 1.

According to the agency's regional disaster field operations center, small nonfarm businesses, small agricultural cooperatives, small business engaged in aquaculture and most private nonprofit organizations of any kind may qualify for economic injury disaster loans of up to $2 million.