U.S. SBA Offering 4% loans for Rock-Slide Affected Businesses

The U.S. Small Business Administration (SBA) is taking applications for emergency loans from business in Haywood and adjacent counties until Aug. 24. The SBA has taken 62 requests related to the rock slide, but has granted only 14 loans, which total $1.4 million. Loans for businesses have a 4 percent interest rate with a maximum loan amount of 2 million. The loans can be repaid over 30 years, maximum, although SBA sets the repayment timeframe depending on a business' ability to pay. Businesses must meet credit requirements  To apply, call (800) 659-2955 or go to www.sba.gov and follow the links for disaster assistance.