![Drought Loans are Available](http://townsquare.media/site/499/files/2012/08/Screen-Shot-2012-08-14-at-12.05.30-PM.png?w=980&q=75)
Drought Loans are Available
Small businesses and agricultural cooperatives in the Southern Tier may be in line for loans of up to $2 million.
The Small Business Administration is offering assistance to businesses affected by this summer’s drought.
Money at a lower interest rate can be used to meet payroll and other expenses but will not reimburse for crop and profit losses.
The loans carry interest rates of 2.625% for private nonprofit organizations and 4% for small businesses.
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