Atlanta, U.S.A. — The U.S. Small Business Administration announced on August 21 that federal economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes in Clay, Macon, Pickett, Robertson, Scott and Summer counties in Tennessee as a result of the drought that began on April 1, 2012.

“These counties are eligible because they are contiguous to one or more primary counties in Kentucky. The Small Business Administration recognizes that disasters do not usually stop at county or state lines. For that reason, counties adjacent to primary counties named in the declaration are included,” according to Frank Skaggs, director of SBA’s Field Operations Center East.

“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 assist eligible entities affected by the same disaster,” said Skaggs.

Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, or ranchers. Nurseries are eligible to apply for economic injury disaster loans for losses caused by drought conditions.

The loan amount can be up to $2 million with interest rates of 3 percent for non-profit organizations of all sizes and 4 percent for small businesses, with terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.

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Atlanta, U.S.A. –  The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes that July 2 is the filing deadline for federal economic injury disaster loans available in Illinois as a result of drought and excessive heat that began on July 1, 2011.

The SBA’s disaster declaration includes the following counties: Adams, Bond, Brown, Bureau, Cass, Champaign, Christian, Clark, Clay, Clinton, Coles, Crawford, Cumberland, DeWitt, Douglas, Edgar, Edwards, Effingham, Fayette, Ford, Franklin, Fulton, Gallatin, Greene, Hamilton, Hancock, Hardin, Henderson, Henry, Iroquois, Jackson, Jasper, Jefferson, Johnson, Kankakee, Knox, Lawrence, Livingston, Logan, Macon, Macoupin, Madison, Marion, Mason, Massac, McDonough, McLean, Mercer, Montgomery, Morgan, Moultrie, Peoria, Perry, Piatt, Pike, Pope, Pulaski, Richland, Rock Island, Saline, Saint Clair, Sangamon, Schuyler, Scott, Shelby, Stark, Tazewell, Union, Vermilion, Wabash, Warren, Washington, Wayne, White, Whiteside, Williamson and Woodford in Illinois; Clinton, Lee, Louisa,Muscatine and Scott in Iowa; and Clark, Lewis and Marion in 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 Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.

Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible  farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, or ranchers. Nurseries are eligible to apply for economic injury disaster loans for losses caused by drought conditions.

The loan amount can be up to $2 million with a 4 percent interest rate for eligible small businesses and 3 percent for non-profit organizations with terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.

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Chain stores dominate the retail industry, from grocery stores to department stores, to the global Wal-Mart Industry. At a glance, these appear convenient because of their low prices and availability, but there are several reasons you should support small businesses instead of these corporate ventures.

1. Better Customer Service

In a survey sponsored by WebVisible, 83% of people preferred small businesses. The top reason was because the service is more personal. Small businesses are community-based: they function entirely within the space they are located. The employees are much friendlier, to the point that they know customers by name.

The same WebVisible survey reports that many customers like having direct access to the decision maker in the event of a problem. For example, small business owners are more likely to do a favor for these customers, such as ordering a specific item that the customer has trouble finding. They are more understanding about price disputes and similar issues. The employees are hired based on knowledge and skill. They are trained to better serve the customers based on specific needs, and will actually know the details of their job.

2. Better opportunities for Employees

Small employers are the top employer in the U.S. According to the U.S. Business Administration, about half of all workers, 52% in total, are employed in a small business. New jobs and titles often spring up from small businesses. Employees are also more likely to stay employed. Mass layoffs have only occurred within big businesses and chain stores: 119,463 people lost their jobs from large businesses in February.

Employees are often guaranteed hours and wages, and are likely to have a voice, a say in how the store changes, and an opinion in the expectations for those sharing their job title. In this way employees feel more included, instead of simply being a worker bee. Small employers are more likely to hire minority employees because of their level of skill, not just to fill state-mandated minority requirements.

3. Economic Opportunities for the Community

Small businesses put the money they earn back into the community where they live and work. Corporations are more likely to pump their money elsewhere, like ad campaigns for political parties that support big business ideals. Furthermore, small businesses present a price competition for big businesses. One company cannot monopolize the entire market of an item if other small companies are around to sell them for less.

For example, more cell phone providers drove down the price of cell phones to break down the monopoly set up by AT&T early on. Finally, small business is based on the idea of entrepreneurship, people who organize and operate business ventures. Small business owners are much more likely to develop or create new products, or hire employees that are encouraged to do so. The Microsoft Company started out as a small business. So did Federal Express, Nike, America Online, and Ben & Jerry’s.

These are only a few of the reasons to support small business. Keeping these stores from drowning under chain stores can benefit everyone.

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