Loans available in Mich. after 2010 drought, heat

DETROIT (AP) -- The federal government says small businesses, small agricultural cooperatives and private nonprofits in Michigan are eligible for loans because of drought and excessive heat this year.

The U.S. Small Business Administration says that the agency's disaster declaration includes more than half of the state's counties.

The SBA's Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related organizations that had financial losses due to the drought and heat.

Loans may be up to $2 million for up to 30 years. Completed loan applications must be returned no later than Aug. 8.



Loan information:

Loan application:

Published: Mon, Dec 27, 2010