Small-Business Loans Available After Floods

Thu., Oct. 9, 1997

From Staff And Wire Reports

Small-business owners in Bonner, Boundary, Shoshone and Kootenai counties who lost business because of spring flooding are eligible for low-interest loans from the U.S. Small Business Administration.

Businesses in Pend Oreille and Spokane counties in Washington state also are eligible.

The loans are designed to offset economic losses that resulted from the flooding from May 24-31 this year. Eligibility is based on the financial impact of the disaster, not on property damage.

Small businesses may qualify for loans of up to $1.5 million at 4 percent interest.

Applications are due by next July 1.

For information and applications, write to Small Business Administration, P.O. Box 13795, Sacramento, CA 95853-4795, or call (800) 488-5323. The phone number for hearing-impaired is (916) 566-7388.

, DataTimes