SBA Flood Loan Deadline ApproachingPosted: Updated:
The deadline is drawing closer for Hoosier businesses seeking U.S. Small Business Administration loans after major flooding hit the state last April. Eligible areas include several counties in north central and northeast Indiana. January 7, 2014
ATLANTA, Geo. - The U.S. Small Business Administration is reminding businesses in Indiana that working capital loans are still available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations affected by severe storms and flooding on April 17-23, 2013.
"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. 10 deadline," said Frank Skaggs, director of SBA Field Operations Center East in Atlanta.
Economic Injury Disaster Loans (EIDLs) up to $2 million are available at 2.875 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, eligible entities need to apply by the deadline.
These EIDLs are available to small businesses and most private non-profit organizations in Blackford, Carroll, Cass, Clinton, Delaware, Grant, Hamilton, Howard, Huntington, Madison, Miami, Tipton, Wabash and Wells in Indiana.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure website at https://disasterloan.sba.gov/ela.
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/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 for economic injury applications is February 10, 2014.
For more information about the SBA's Disaster Loan Program, visit our website atwww.sba.gov/disaster.
Source: The U.S. Small Business Administration