Small non-farm owners in 10 Utah counties are eligible to apply to the Small Business Administration for financial assistance because of losses stemming from the decline in farm income caused by the 1990 drought.
Stan Nakano, SBA director in Utah, said SBA administrator Susan Engeleiter has approved the eligibility for small non-farm owners in Beaver, Cache, Garfield, Morgan, Piute, Rich, Sevier, Summit, Wayne and Weber counties.As a result of the disaster designation, small non-farm businesses including "Main Street" businesses and small agricultural cooperatives can apply for financial assistance.
Eligibility is restricted to agri-dependent businesses, but the limitation doesn't apply to nurseries. All applicants must demonstrate substantial economic injury and must be unable to offset such injury through use of their own credit and personal resources.
Nakano said eligible applicants may qualify for working capital loans of up to $500,000 to meet financial obligations that would have been met if not for the disaster. Loan terms will be based upon the ability of each applicant to repay the loan and cannot exceed 30 years.