Deadline Approaching To Apply For Working Capital Loans

SBA says they’re for small businesses which suffered losses during tornadoes last year.

 

Atlanta, Ga.. (KM) If you own a small business in Frederick County that suffered damages during the tornadoes which occurred on November 2nd of last year, you can still apply for a working capital loan to cover losses resulting from the disaster. But you need to act quickly. The US Small Business Administration says the deadline to apply is September 9th. .

“Businesses that suffered economic losses as a result of the disaster and want to apply for low interest loans from the SBA are urged act before the Sept. 9th deadline,” says Kem Fleming, director of SBA Field Operations Center East, in statement.

In addition to small businesses, small agricultural cooperatives and non-profit organizations can apply for the loans to pay fixed debts, payroll, accounts payable and other expenses that would have been paid if the tornadoes had not happened.

The SBA says working disaster loans of up to $2-million are available at 3.74% for small businesses, and 2.75% for private, non-profit organizations with terms of up to 30-years.

The low interest disaster loans are also available for small businesses in Carroll, Howard and Baltimore Counties in Maryland, and Adams and York Counties in Pennsylvania.

Applicants can apply online using the Electronic Loan Application via the SBA’s secure website at DisasterLoan.sba.gov.

Businesses can also obtain loan applications and other information by calling the SBA Customer Service Center at 1-800-659-2955 (For deaf or hard of hearing, call 1-800-877-8339), or by e-mailing disastercustomerservice@sba.gov. Loan applications can be downloaded at sba..gov/disaster. Completed applications should be mailed to: US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas, 76155.

 

By Kevin McManus