Flooded Missouri Small Businesses Eligible for Fed Funds

The damaging floods in the region seem never ending this year, and property owners have certainly felt the pain. 

For some small-business owners in the Kansas City, Mo., region, though, some of that might be abated. Non-farm and non-agricultural small enterprises that were impacted due to the rains and flooding that started on March 9 might be eligible for Economic Injury Disaster Loans of up to $2 million to meet unmet operating expenses as a result of damages. Clay, DeKalb, Jackson, Lafayette and Platte are among the 16 counties in the state from which businesses can apply.

The loans have a four-percent interest rate for businesses and 2.75 percent for private non-profits, with a maximum term of 30 years. 

Firms can apply online at https://disasterloan.sba.gov/ela or call the SBA’s Customer Service Center at 800-659-2955 for more information. For the deaf or hard of hearing, the number is 800-977-8339.

Parties have until Feb. 25, 2020 to apply.