Businesses in Cocke, Sevier eligible for drought loans

FILE- (AP Photo/Jae C. Hong)
FILE- (AP Photo/Jae C. Hong)

SEVIERVILLE, Tenn. (AP) – The U.S. Small Business Administration says federal economic injury disaster loans are available to businesses in Cocke and Sevier counties in Tennessee because of drought that began earlier this month.

The agency says the counties are eligible because they are contiguous to one or more primary counties in North Carolina.

The loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations in the two counties.

The loan amount can be up to $2 million. The funds can be used to pay fixed debts, payroll, accounts payable and other bills that could have been paid if the disaster hadn’t occurred.

Applicants can apply online at https://disasterloan.sba.gov/ela or call (800) 659-2995 or email disastercustomerservicesba.gov.

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