Businesses in West Virginia, Kentucky can get disaster loans
HUNTINGTON, W.Va. (AP) — Certain small businesses in several West Virginia and Kentucky counties can apply for loans as a result of excessive moisture and cold temperatures during April and May.
The U.S. Small Business Administration announced the Working Capital Disaster Loans on Monday. They are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations.
The eligible counties are Cabell, Jackson, Mason, Wayne and Wood in West Virginia and Boyd and Greenup counties in Kentucky, the agency said in a news release. They are eligible because they are contiguous to one or more primary counties in Ohio.
The loans can be for up to $2 million with interest rates ranging from 2.75% to 3.75%.
To apply, use the electronic loan application at Disasterloan.sba.gov and apply under SBA declaration # 16581, not for the COVID-19 incident. Information and forms are also available by calling (800) 659-2955. Applications are due by April 12.