Small businesses in Moody and adjacent counties may be eligible for disaster loans

Small nonfarm businesses in four South Dakota counties and neighboring counties in Minnesota are now eligible to apply for low interest federal disaster loans from the U.S. Small Business Administration.

These loans are meant to offset economic losses because of reduced revenues caused by drought in Moody County.

Neighboring South Dakota counties of Brookings, Lake and Minnehaha are also eligible as are the Minnesota counties of Lincoln, Pipestone and Rock.

This covers both the economic impacts on businesses dependent on farmers and ranchers hit by drought and businesses directly impacted by the disaster.

Eligibility is based only on the financial impact of the disaster and not on any actual property damage.

The disaster was declared Monday and the deadline to apply is April 15th of next year.


August 18, 2023