SBA declares Cook Inlet an economic disaster

Posted: Friday, October 27, 2000

ANCHORAGE (AP) -- The Small Business Administration has declared an economic disaster for the Cook Inlet region because of poor red salmon returns to the Kenai River over the summer.

The declaration makes 4 percent interest federal loans available to small businesses. That includes fishermen, fish industry businesses and companies dependent upon the fishing economy.

The working capital loans are aimed at helping pay fixed debts, payroll, accounts payable and other bills affected by the disaster.

The SBA plans to open disaster offices at Homer and Soldotna to help those applying for the loans.

The eligible region includes the Kenai Peninsula, Anchorage, the Mat-Su and Lake and Peninsula Boroughs. The application deadline is July 24th.

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