ATLANTA, July 13, 2015 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration (SBA) is reminding small businesses, small agricultural cooperatives, small aquaculture businesses and private nonprofit organizations in Baltimore City and the adjacent counties of Anne Arundel and Baltimore that Economic Injury Disaster Loans (EIDLs) remain available until Feb. 11, 2016 for entities affected by the Civil Disorder between April 25 and May 3, 2015.
Additionally, other resources from the SBA to help the Baltimore community are still available to businesses. The resources include funds for micro loans, grants, technical assistance and government contracting, and can be found at: http://1.usa.gov/1JchrUR. SBA's District Office in Baltimore and the Small Business Development Centers (SBDCs) will continue to provide free services to help businesses grow and succeed.
Small Business Administration EIDLs can provide up to $2 million of working capital, 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 should apply by the deadline.
The deadline for physical damage loans was July 10, 2015. Businesses and individuals who were unable to apply by that date may submit an SBA application for property damages, but must include an explanation for the late filing. The SBA will consider whether to accept late applications on a case-by-case basis.
Applicants may apply for EIDLs online using the Electronic Loan Applicant (ELA) via SBA's secure website at https://disasterloan.sba.gov/ela.
Additional information on the disaster loan program is available by calling 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 email@example.com. SBA loan applications can be downloaded from www.sba.gov/disaster. Mail completed applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to return economic injury applications is Feb. 11, 2016.
For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov/disaster.
Release Number: 15-307, MD 14307
Contact: Michael Lampton
Phone: (404) 331-0333
SOURCE U.S. Small Business Administration