June 17 Deadline Approaching in Virginia for SBA Working Capital Loans

May 17, 2013, 07:36 ET from U.S. Small Business Administration

ATLANTA, May 17, 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 17 is the filing deadline for federal economic injury disaster loans.  These loans are available in Virginia as a result of drought, excessive heat, and high winds that began on Jan. 1, 2012.

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The disaster declaration includes the following counties: Albemarle, Amelia, Amherst, Appomattox, Bedford, Botetourt, Brunswick, Buckingham, Caroline, Campbell, Charles City, Charlotte, Chesterfield, Culpeper, Cumberland, Dinwiddie, Essex, Fauquier, Fluvanna, Franklin, Gloucester, Goochland, Greene, Greensville, Halifax, Hanover, Henrico, Henry, James City, King and Queen, King George, King William, Lancaster, Louisa, Lunenburg, Madison, Mathews, Mecklenburg, Middlesex, Nelson, New Kent, Northumberland, Nottoway, Orange, Page Prince, Pittsylvania, Powhatan, Prince Edward, Prince William, Rappahannock, Richmond, Roanoke, Rockbridge, Rockingham, Southampton, Spotsylvania, Stafford, Surry, Sussex, Westmoreland and York; and contiguous independent cities of Bedford, Colonial Heights, Danville, Fredericksburg, Hopewell, Lynchburg, Petersburg and Richmond in Virginia.

Under this declaration, the SBA's Economic Injury Disaster Loan program is 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.  Nurseries are eligible to apply for economic injury disaster loans for losses caused by drought conditions.

The working capital loan amount can be up to $2 million with 4 percent interest rates 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 disastercustomerservice@sba.gov.  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. 

Completed loan applications must be returned to SBA no later than June 17, 2013.

For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov.

Contact: Michael Lampton 
Email: Michael.Lampton@sba.gov
Phone: (404) 331-0333

Release Number: 13-561, VA 13354

SOURCE U.S. Small Business Administration