The United States Small Business Administration issued the following press release on Wednesday. If your business suffered significant economic loss as a result of the environmental disasters from last fall’s tropical storms, this may be of interest to you.
“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 June 13 deadline,” said Frank Skaggs, director of SBA Field Operations Center East.
Economic Injury Disaster Loans (EIDLs) up to $2 million are available at 3 percent for private non-profit organizations of all sizes and 4 percent for small businesses, 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, disaster survivors need to apply by the deadline.
These EIDLs are available to small businesses and most private non-profit organizations in the following counties: Albany, Broome, Chemung, Chenango, Columbia, Cortland, Delaware, Dutchess, Fulton, Greene, Hamilton, Herkimer, Lewis, Madison, Montgomery, Oneida, Orange, Oswego, Otsego, Putnam, Rockland, Saint Lawrence, Saratoga, Schenectady, Schoharie, Schuyler, Steuben, Sullivan, Tioga, Tompkins, Ulster and Westchester in New York; Passaic and Sussex in New Jersey; and Bradford, Pike, Susquehanna, Tioga and Wayne in the Commonwealth of Pennsylvania.
To obtain disaster loan information and application forms, call the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or send an email to firstname.lastname@example.org. Loan application forms can also be downloaded from www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
Those affected by the disaster may also apply for disaster loans electronically from the SBA’s website at https://disasterloan.sba.gov/ela/.
The deadline for economic injury applications is June 13, 2012.