Disaster assistance available for South Dakota small businesses
Small, non-farm businesses in 50 South Dakota counties and neighboring counties in Iowa and are now eligible to apply for low‑interest federal disaster loans from the U. S. Small Business Administration.
"These loans offset economic losses because of the drought, excessive heat, high winds, hail, frosts and freezes that began January 1, 2012, in the following primary South Dakota counties," Alfred E. Judd, Director of SBA's Disaster Field Operations Center-West, said.
The South Dakota counties include: Brown, Brule, Buffalo, Corson, Faulk, Hand, Harding, Hughes, Hyde, Lake, Lyman, Mellette, Miner, Minnehaha, Moody, Perkins, Potter, Sanborn, Stanley, Sully and Ziebach, Aurora, Beadle, Bennett, Brookings, Butte, Campbell, Charles Mix, Davison, Day, Dewey, Edmunds, Gregory, Haakon, Hanson, Jackson, Jerauld, Jones, Kingsbury, Lincoln, Marshall, McCook, McPherson, Meade, Pennington, Spink, Todd, Tripp, Turner and Walworth.
The Minnesota counties include Lincoln, Pipestone and Rock. Lyon County is the only Iowa county eligible.
"SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster," Judd said.
Small, non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private, nonprofit organizations of any size may qualify for Economic Injury Disaster Loans (EIDLs) of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.
"Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4% for businesses and 3% for private, nonprofit organizations, a maximum term of 30 years, and are available to small businesses and most private, nonprofits without the financial ability to offset the adverse impact without hardship," Judd said.
By law, SBA makes EIDLs available when the U. S. Secretary of Agriculture designates an agricultural disaster. Secretary Tom Vilsack declared this disaster at the request of Governor Dennis Daugaard.
Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency (FSA) about the U. S. Department of Agriculture (USDA) assistance made available by the Secretary's declaration. However, in drought disasters nurseries are eligible for SBA disaster assistance.
Thursday, February 20 2014 7:42 PM EST2014-02-21 00:42:09 GMT
Behind the glory of football there are the scars and bruises. Some visible, some not. We still have much to learn about the health risk football puts on it's players, but some of the biggest strides inMore >>
Behind the glory of football there are the scars and bruises, some visible, some not. We still have much to learn about the health risk football puts on it's players, but some of the biggest strides in research are happening on South Dakota's fields.More >>
Saturday, March 8 2014 8:17 PM EST2014-03-09 01:17:06 GMT
ST. PAUL — The Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), St. Paul Field Division Special Agent in Charge Scott D. Sweetow today announced a reward of up to $5,000 for information leadingMore >>
There is a $5,000 reward for information leading to the arrest of the suspect(s) responsible for the arson fire to the Colonial Inn Motel, in Yankton.More >>
Saturday, March 8 2014 8:05 PM EST2014-03-09 01:05:09 GMT
Despite a warm-up on the way in our forecast, taking a dip into water outside may be the last thing on our minds. In Huron, Saturday, if it was for a good cause, it was hard to say no. More than 200More >>
Brave souls plunged into icy cold water in Huron, Saturday, for a good cause. More >>
Saturday, March 8 2014 6:54 PM EST2014-03-08 23:54:51 GMT
The three Americans on board the Malaysia Airlines flight that went missing in Southeast Asia have been identified and include two young children, according to the flight's manifest. ABC News reportsMore >>
Malaysia Airlines previously reported that one of the Americans on board the flight was an infant.More >>
Saturday, March 8 2014 6:46 PM EST2014-03-08 23:46:53 GMT
Chances are, those security breaches that affected major retailers are still fresh on our minds. Now, consumers and companies are coming up with new ways to protect themselves online. A cybersecurityMore >>
The cybersecurity event DakotaCon is happening this weekend. It's a real world exercise. Each college team or "IT team" goes in and secures a network from outside use. A group of "hackers" are on hand trying to break the team's security breach.More >>
Saturday, March 8 2014 11:06 AM EST2014-03-08 16:06:58 GMT
KUALA LUMPUR, Malaysia (AP) — Vietnamese air force planes on Saturday spotted two large oil slicks close to where a Malaysia Airlines Boeing 777 went missing earlier in the day, the first sign that theMore >>
There was no confirmation that the slicks were related to the missing plane, but the statement said they were consistent with the kinds that would be produced by the two fuel tanks of a crashed jetliner.More >>
Friday, March 7 2014 11:09 PM EST2014-03-08 04:09:14 GMT
KUALA LUMPUR, Malaysia (AP) - Search and rescue teams are looking for a Malaysia Airlines passenger jet with 239 people aboard - including three adult Americans and one infant. The airline says it lostMore >>
Malaysia Airlines says the plane was carrying 227 passengers, including two infants, and 12 crew members.More >>
Friday, March 7 2014 10:31 PM EST2014-03-08 03:31:23 GMT
Six weeks after arson shuttered the Co-op Natural Foods Store, shelves are stocked and customers are coming through the doors once again. And it's not just the food they're excited about. "The thingMore >>
Six weeks after arson shuttered the Co-op Natural Foods Store, shelves are stocked and customers are coming through the doors once again.More >>