NM Delegation announces Small Business Loans available for businesses affected by ongoing drought

Category: Non-Local News Releases Non-Local News Releases
Published: 20 March 2018 20 March 2018

WASHINGTON — U.S. Senators Tom Udall and Martin Heinrich and U.S. Representatives Steve Pearce, Ben Ray Luján, and Michelle Lujan Grisham announced that small businesses in several New Mexico counties will be eligible for low-interest federal disaster loans from the U.S. Small Business Administration (SBA) due to the ongoing drought. The loans are designed to offset economic losses from reduced revenues caused by drought. Eligible counties are Catron, Cibola, Grant, Hidalgo, McKinley, San Juan, Curry, Lea, Quay, Roosevelt, Union, Colfax, Harding, Mora, Taos, Chaves, DeBaca, Guadalupe, and San Miguel. Nonfarm businesses that depend on farms and ranches that have suffered agricultural production losses due to drought and businesses directly impacted by the drought will be eligible for the loans.

"Small businesses are the engines of New Mexico's economy but the ongoing drought has put strain on local agriculture, which many small businesses depend on. These loans will help offset those losses so small business owners can focus on what they do best — driving their local economies and strengthening their communities," the delegation said in a joint statement. "The drought has had a ripple effect in our state, but we will continue working to ensure our farmers, ranchers, and business owners are getting the support from the federal government that they need to grow and succeed."

Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help cover financial obligations and operating expenses that would have been met had the disaster not occurred. On March 8 and 15, 2018, the U.S. Secretary of Agriculture designated the drought in the Southwest an agricultural disaster, which requires the SBA to make Economic Injury Disaster Loans available to businesses in the affected area.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA's Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to apply for economic injury is Nov. 8, 2018.

Content on the Beat

WARNING: All articles and photos with a byline or photo credit are copyrighted to the author or photographer. You may not use any information found within the articles without asking permission AND giving attribution to the source. Photos can be requested and may incur a nominal fee for use personally or commercially.

Disclaimer: If you find errors in articles not written by the Beat team but sent to us from other content providers, please contact the writer, not the Beat. For example, obituaries are always provided by the funeral home or a family member. We can fix errors, but please give details on where the error is so we can find it. News releases from government and non-profit entities are posted generally without change, except for legal notices, which incur a small charge.

NOTE: If an article does not have a byline, it was written by someone not affiliated with the Beat and then sent to the Beat for posting.

Images: We have received complaints about large images blocking parts of other articles. If you encounter this problem, click on the title of the article you want to read and it will take you to that article's page, which shows only that article without any intruders. 

New Columnists: The Beat continues to bring you new columnists. And check out the old faithfuls who continue to provide content.

Newsletter: If you opt in to the Join GCB Three Times Weekly Updates option above this to the right, you will be subscribed to email notifications with links to recently posted articles.

Submitting to the Beat

Those new to providing news releases to the Beat are asked to please check out submission guidelines at https://www.grantcountybeat.com/about/submissions. They are for your information to make life easier on the readers, as well as for the editor.

Advertising: Don't forget to tell advertisers that you saw their ads on the Beat.

Classifieds: We have changed Classifieds to a simpler option. Check periodically to see if any new ones have popped up. Send your information to editor@grantcountybeat.com and we will post it as soon as we can. Instructions and prices are on the page.

Editor's Notes

It has come to this editor's attention that people are sending information to the Grant County Beat Facebook page. Please be aware that the editor does not regularly monitor the page. If you have items you want to send to the editor, please send them to editor@grantcountybeat.com. Thanks!

Here for YOU: Consider the Beat your DAILY newspaper for up-to-date information about Grant County. It's at your fingertips! One Click to Local News. Thanks for your support for and your readership of Grant County's online news source—www.grantcountybeat.com

Feel free to notify editor@grantcountybeat.com if you notice any technical problems on the site. Your convenience is my desire for the Beat.  The Beat totally appreciates its readers and subscribers!  

Compliance: Because you are an esteemed member of The Grant County Beat readership, be assured that we at the Beat continue to do everything we can to be in full compliance with GDPR and pertinent US law, so that the information you have chosen to give to us cannot be compromised.