AUGUSTA – The U.S. Small Business Administration reminds small, non-farm and agriculture-dependent businesses in Maine that the filing deadline for economic injury disaster loans is Nov. 12.

“A disaster declaration was issued as a result of a similar action taken by the secretary of agriculture to help farmers in the state recover from losses caused by drought conditions that occurred from Jan. 1, 2002 and continuing,” said SBA Disaster Area Director William E. Leggiero Jr.

Under this declaration, SBA’s loan program is available to small agriculture-dependent businesses and small agricultural cooperatives that suffered economic injury as a direct result of the weather’s effect on agricultural producers. For example, businesses that sell goods and services directly to agricultural producers may be unable to pay bills and/or meet expenses because of the reduced purchasing power of the farmers and ranchers.

Eligible small businesses may qualify for loans up to $1.5 million. These loans are available at a 4 percent interest rate with terms up to 30 years. SBA determines eligibility for the program based on the size and type of business and its financial resources.

“SBA does not provide loans to farmers, and cannot provide loans to nonagricultural dependent businesses. Small businesses may contact their local SBA District office for information and other possible assistance. Farmers and ranchers should contact the Farm Services Agency, for information regarding loan programs,” Leggiero added.

The declaration designates the entire state as the primary disaster area. Interested small business owners should contact the SBA Disaster Area 1 Office at (800) 659-2955 or (800) 877-8339 for the hearing-impaired to obtain an application or for more information. Completed disaster loan applications must be returned to SBA no later than Nov. 12.