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July 16 deadline for SBA aid in 3 W.Va. counties

June 19, 2012

CHARLESTON, W.Va. — Private nonprofit organizations and small businesses in three West Virginia counties that suffered losses due to drought, heat and storms last year have until July 16 to apply for federal disaster loans.

The U.S. Small Business Administration said the loans are available in Berkeley, Jefferson and Morgan counties.

Applicants can seek loans of up to $2 million. The interest rate is 4 percent for eligible small businesses and 3 percent for nonprofit organizations with terms up to 30 years.

Loan amounts and terms are based on each applicant’s financial condition.

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