Washington, D.C. - Businesses that depend on the economic health of the farming and ranching industry in two Wyoming counties can now apply for low interest Economic Injury Disaster Loans from the U.S. Small Business Administration (SBA), according to U.S. Sen. Mike Enzi, R-Wyo.

Enzi, a member of the U.S. Senate Small Business Committee, said he is pleased to report that businesses in Big Horn and Park Counties can qualify for these loans, which are available to help businesses meet normal operating expenses that cannot be met due to the effects of a disaster.

"The same disasters that affect our farmers and ranchers also affect the folks that run businesses in our rural communities," Enzi said. "The ag industry in Big Horn County and Park County is vital to the economic well-being of the local communities."

Due to the weather, many producers often experience crop losses and are not able to purchase goods and services at normal prices. Businesses that are dependent on these producers may experience decreased sales, reduced gross profit margins, increased accounts receivable or difficulty in moving inventories at normal levels. The SBA loans are designed to help the businesses affected to meet normal obligations. The loan would help the business meet installments on long-term debt, accounts payable and overhead expenses that would have been met had the disaster not occurred.

The SBA loans may be approved up to $1.5 million for actual disaster-related financial needs of the business. Interest rates are 4 percent and terms may extend to 30 years, depending on the repayment ability of the individual applicant, according to the SBA. For more information on SBA loans, call the SBA disaster assistance at 1-800-366-6303.