Latest News – January 21

New SBA Loan Opportunity Announced

While many businesses may be prepared for catastrophe through insurance coverage, what if another kind of disaster occurs which makes it difficult for you to meet your business’ financial obligations and operating expenses. Costs which could have been met had the disaster not occurred.

For example, if you lived in the Gulf Coast and owned a hotel that did not incur direct property damage from the oil spill, but your business may have been down due to a recess in tourism as a result of the spill.

In Colorado, that economic injury now includes businesses affected by the drought. These companies are now eligible to apply for low-interest federal disaster loans from the U. S. Small Business Administration (SBA).

“These loans offset economic losses because of reduced revenues caused by the drought that began on November 1, 2012,” announced Alfred E. Judd, Director of SBA’s Disaster Field Operations Center-West earlier this month.

And Lake County is included among the Primary Colorado counties. So if you’re shopping for a business loan, check out the details HERE. Thanks to Lake County Emergency Manager Mike McHargue for bringing this opportunity to light.