Deadline approaching for drought related loan applications

FILE - In this June 23, 2015, file photo a lawn is irrigated in Sacramento, Calif. A report is due out Thursday, Aug. 27, 2015 on monthly state water conservation figures. Many California cities are conserving well, and officials are turning their attention to the few cities/agencies that aren’t doing so well. (AP Photo/Rich Pedroncelli, File)

ATLANTA (AP) – Small businesses in some Georgia counties affected by a drought dating back to November 2016 have one more month to apply for federal disaster loans.

The U.S. Small Business Administration says applicants must apply online by July 24. Small businesses, small agricultural cooperatives, small aquaculture businesses and most nonprofits could be eligible for the economic injury disaster loan program.

Agricultural producers, farmers or ranchers aren’t eligible for the loan program.

Officials say the loans can be up to $2 million with interest rates of 3.125 percent for eligible small businesses and 2.5 percent for nonprofits. More information is available at the Small Business Administration’s web site.

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