ATLANTA, Jan. 20, 2015 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small aquaculture businesses and most private non-profit organizations in Tennessee of the deadline to submit disaster loan applications for economic impact caused by the severe storms, tornadoes and flooding that occurred on April 27-29, 2014. The deadline to apply for a working capital disaster loan is Feb. 20, 2015.
"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 Feb. 20 deadline," said Frank Skaggs, Director of SBA Field Operations Center East.
Low-interest disaster loans are available in Bedford, Franklin, Giles, Lincoln, Marshall and Moore counties in Tennessee; and Limestone and Madison counties in Alabama.
Working capital disaster loans up to $2 million are available at 2.625 percent for private
non-profit organizations 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, 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.
Applications and program information are available 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 sending an email to [email protected]. Loan applications can also be downloaded from the SBA's website at www.sba.gov/disaster. 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 applications is February 20, 2015.
For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov/disaster.
Release Number: 15-123 TN 13998
Contact: Michael Lampton
Email: [email protected]
Phone: (404) 331-0333
SOURCE U.S. Small Business Administration