Deadline Approaching for SBA Working Capital Loans in Upstate New York for Last Summer's Disaster
ATLANTA, May 7, 2013 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes that June 3 is the filing deadline for federal economic injury disaster loans. These loans are available in Albany, Columbia, Delaware, Greene, Rensselaer, Schoharie and Ulster counties as a result of the flash flooding, high winds and hail that began on June 22, 2012.
Last year, the Secretary of Agriculture issued a disaster declaration to help farmers recover from damaged and losses to crops. In turn, the SBA made the Economic Injury Disaster Loan Program (working capital) available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, or ranchers.
The working capital loan amount can be up to $2 million with interest rates as low as 4 percent for eligible small businesses and 3 percent for non-profit organizations with terms up to 30 years.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure website at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms may also be obtained by calling the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to firstname.lastname@example.org. Loan applications can be downloaded from the SBA's website at 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.
The deadline to return economic injury loan applications is June 3, 2013.
For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov.
Contact: Michael Lampton
Phone: (404) 331-0333
Release Number: 13-539, NY 13337
SOURCE U.S. Small Business Administration