Small businesses and non-profits in 12 of Maine's 16 counties that suffered economic impacts from last summer's severe drought are now eligible to apply for low-interest federal disaster loans.
The loans are for up to $2 million with interest rates as low as 4%, according to the Small Business Administration.
Small businesses in all but Androscoggin, Cumberland, Franklin and Oxford counties, are eligible to apply. The declaration for York County covers economic losses incurred later at the end of October.
The Small Business Administration said the loans can be used to pay outstanding debts, payroll and other bills directly related to the drought. These loans are separate from federal assistance offered to farmers through the U.S. Department of Agriculture.
Federal loans are also available for some small businesses in Maine affected by a completely different weather event, abnormally rainy and conditions last May.
