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DISASTER
NEWS
Economic
Injury Loans for Small Businesses
SBA Disaster
Assistance - Field Operations Center East - 101 Marietta Street, NW, Suite 700,
Atlanta, GA 30303
Release Date: June 3, 2016
Contact: Michael Lampton
Phone: (404) 331-0333
SBA Disaster Loan Deadline in North
Carolina is July 5;
There is Still Time to Apply
ATLANTA
– The U.S. Small Business Administration reminds small businesses, small
agricultural cooperatives, small businesses engaged in aquaculture and private
nonprofit organizations in
North Carolina of the July 5, 2016 deadline to apply for Economic Injury Disaster Loans (EIDLs) as a result of excessive rain and flooding from Sept. 22 through Oct. 4, 2015.
North Carolina of the July 5, 2016 deadline to apply for Economic Injury Disaster Loans (EIDLs) as a result of excessive rain and flooding from Sept. 22 through Oct. 4, 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 deadline,” said
Frank Skaggs, director of SBA Field Operations Center East in Atlanta.
The
disaster declaration includes Alamance, Anson, Beaufort, Bertie, Bladen,
Cabarrus, Camden, Carteret, Caswell, Chowan, Columbus, Craven, Cumberland,
Franklin, Gates, Halifax, Harnett, Hertford, Hoke, Hyde, Martin, Mecklenburg,
Moore, Nash, Northampton, Orange, Pamlico, Pasquotank, Pender, Perquimans,
Person, Richmond, Robeson, Rockingham, Sampson, Scotland, Stanly, Union, Vance,
Warren and Washington in North Carolina.
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 and ranchers.
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 and ranchers.
The
loans are for working capital and can be up to $2 million with interest rates
of 4 percent for eligible small businesses and 2.625 percent for nonprofit
organizations, and terms up to 30 years.
The SBA determines eligibility based on the size of the applicant, type
of activity and its financial resources.
Loan amounts and terms are set by the SBA and are based on each
applicant’s financial condition. These
working capital loans may be used to pay fixed debts, payroll, accounts
payable, and other bills that could have been paid had the disaster not
occurred. The loans are not intended to
replace lost sales or profits.
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 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.
Submit completed loan
applications to SBA no later than July
5, 2016.
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For
more information about the SBA’s Disaster Loan Program, visit our website at www.sba.gov/disaster.
