FOR IMMEDIATE RELEASE: March 20, 1997
CONTACT: Dana Hagerty 202/225-2165
WASHINGTON, DC -- Congressman Collin C. Peterson (DFL-7th District) announced today that the counties of Becker, Beltrami, Clearwater, Otter Tail and Pennington and the contiguous counties of Clay, Hubbard, Lake of the Woods, Mahnomen, Marshall, Norman, Polk, Red Lake, Roseau, Todd, Wadena and Wilkin in the 7th District have been declared economic injury disaster loan areas by the United States Small Business Administration.
"Because of the severe winter storms and blizzard conditions experienced in these counties between November 1996 and January 1997, small businesses in these counties without credit available elsewhere can apply for economic injury assistance," Peterson said. "This also applies to small agricultural cooperatives in these counties without credit available elsewhere."
Eligible small businesses and small agricultural cooperatives may file applications for economic injury assistance for this disaster until the close of business on December 4, 1997 at the following address:
U.S. Small Business Administration
Disaster Area 2 Office
One Baltimore Place, Suite 300
Atlanta, GA 30308
Economic Injury Disaster Loans provide working capital to small businesses so they can pay bills and meet normal operating expenses. The interest rate for eligible small businesses and small agricultural cooperatives is 4 percent.