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Deadline Near
On SB A Loans
The U. S. Small Business Administration (SBA) has approved over 200 Virginia farm loans totaling nearly 16 million dollars for crop losses from the 1980 drought and with only two months left until the application deadline, the Agency expects ..increased activity. ’“We have accepted ovd| 450 applications requesting nearly 36 million dollars.” said Richard Segrave-Daly. SBA District Director. "However, we believe many Virginia farmers have been waiting for complete harvest records and the end of the tax year before applying to SBA.”
The deadline for filing loan applications for crop losses is March 5. 1981. The sooner an application is filed, the sooner it can be processed. It takes abput 4 to 6 weeks to process an application and come up with a determination. Disbursing the loan funds may take another 30 to 60 days.
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