Loans available to farmers hurt by drought

ATLANTA — Three West Tennessee counties are now eligible for federal Economic injury Disaster Loans.

According to a news release, the announcement came on Tuesday, and is in response to the drought that began on October 25.

The loans are available in Lake, Obion, and Weakley counties, along with parts of Kentucky, Illinois, Missouri.

“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages
and losses to crops, the Small Business Administration issues a declaration to eligible entities, affected
by the same disaster,” said Kem Fleming, director of SBA’s Field Operations Center East.

The loans are for small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations with economic losses due to the drought.

Applications can be done online, and should be done under SBA declaration #17703. The deadline to apply is July 3, 2023.

You can read the full news release here.