Businesses feel the loss of Iowans on military duty

Several thousand citizen-soldiers from Iowa are now on federal active duty and businesses across the state are feeling the effects of the missing workers. Hector Barreto , director of the U.S. Small Business Administration, was in eastern Iowa this week. He says those affected Iowa merchants should consider applying for Military Reservist Economic Injury Disaster Loans. He says the loans can help businesses that have lost key staff members to military service. They can be obtained for three-percent interest rates over 30 years. Barreto says the loans can be for as much as one-and-a-half million dollars for businesses that have lost essential employees. He says they’re for “working expenses” as when a business loses the services of a valuable employee. The filing period for the loans ends 90 days after the date the business owner or key employee is discharged from active duty. For more information, surf to “www.sba.gov”.