Johnson County Businesses Eligible For Up To $2 Million In Low-interest Sba Loans

Johnson County businesses are eligible now for low-interest loans of up to $2 million through the U.S. Small Business Administration.The Economic Injury Disaster Loans look to “offset economic losses because of reduced revenues caused by the derecho,” according to a news release. The loans can last up to 30 years at a 3 percent interest rate for businesses and 2.75 percent interest rate for not-for-profits.“Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage,” said Tanya Garfield, director of SBA’s Disaster Field Operations Center-West, in the release.Linn County and several other counties in Iowa are already eligible for the Economic Injury Disaster Loans.Johnson County’s eligibility came following U.S.