NewsLocal News


Loans available for Michigan businesses after summer hail

Posted at 1:14 PM, Dec 27, 2018
and last updated 2018-12-27 13:14:14-05

LANSING, Mich. (AP) — Small businesses, small agricultural cooperatives and private nonprofit organizations financially impacted by an Aug. 1 hailstorm in some parts of northern Michigan can apply for Economic Injury Disaster Loans.

The U.S. Small Business Administration said the federal loans are being made available in Antrim, Benzie, Grand Traverse, Kalkaska, Leelanau, Manistee, Missaukee and Wexford counties.

The agency says the 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.

Completed loan applications are due no later than Aug. 13, 2019.