SBA launches rescues loans for Kansas business owners

6/2/2011

Last month, devastating tornadoes impacted a number of businesses in Reading, Kansas. On Wednesday, the United States U.S. Small Business Administration decided to offer commercial loans to those who were affected by the tornadoes.

The SBA acted under its own authority to grant the loans after Governor Sam Brownback made the request on May 25. Neighboring counties, such as Chase, Coffey, Greenwood, Morris, Osage and Wabaunsee, are also eligible to receive assistance from the SBA.

"The U. S. Small Business Administration is strongly committed to providing Kansans with the most effective and customer-focused response possible to assist residents and businesses affected by the tornadoes with federal disaster loans," Mills told the Emporia Gazette. "Getting our businesses and communities up and running after a disaster is our highest priority at SBA."

Disaster loans can be worth as much as $200,000, which should be more than enough to fix any damage or buoy any lost business as a result of the tornadoes.

Making smart use of loans is key to running a successful business. According to Inc. magazine, it is easier to get commercial loans if small business owners keep better track of their financial records.