Monday Is Deadline For Tornado Victims To Apply For SBA Loans

January 8, 2017

Monday is the deadline for small businesses, small agricultural cooperatives, small aquaculture businesses and most private nonprofit organizations to submit U.S. Small Business Administration disaster loan applications for damages caused by the severe storms and tornadoes on either February 15 or February 23-24, 2016.

“Businesses that suffered economic losses as a result of the disaster and want to apply for low-interest loans from the SBA are urged to do so before the Jan. 9 deadline,” said Frank Skaggs, director of SBA Field Operations Center East.

Low-interest disaster loans are available in the following counties: Escambia County and the adjacent counties of Santa Rosa in Florida; Baldwin and Escambia in Alabama.

Working capital disaster loans up to $2 million are available at 4 percent for small businesses, and 2.625 percent for private nonprofit organizations with terms up to 30 years. The loans are intended to pay fixed debts, payroll, accounts payable, and other expenses that could have been paid had the disaster not occurred. To be considered for this assistance, eligible entities need to apply by the deadline.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.

Businesses may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing disastercustomerservice@sba.gov (link sends e-mail). Loan applications can also be downloaded at www.sba.gov/disaster. Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

NorthEscambia.com file photo.

Comments

Comments are closed.

Written by William Reynolds · Filed Under Archive