SBA loans now open to Jackson businesses with losses from water crisis
Jackson businesses that have been racking up costs to stay open through the water crisis can now apply for low-interest loans through the U.S. Small Business Administration.
Applications are due June 14. Gov. Tate Reeves applied for the loan program earlier this week.
The loans are available to businesses and nonprofits that experienced economic losses as a result of the total or near water pressure loss following the Pearl River flooding in late August. Businesses in Hinds, Claiborne, Copiah, Madison, Rankin, Simpson, Warren and Yazoo counties are eligible.
”These low-interest loans will go a long way to support our Jackson businesses and help them make it through the ongoing water crisis,” Reeves said. “I’m committed to ensuring that we both restore clean water to the city and relieve the burdens of this crisis for Jacksonians.”
The loans are intended to assist businesses through the recovery period, can be up to $2 million per applicant, and will not have an interest rate above 4%.
Applicants may apply online at https://disasterloanassistance.sba.gov/ela or call (800) 659-2955.