Deadline to Apply for SBA Economic Injury Disaster Loans in Massachusetts is Fast Approaching - KTUL.com - Tulsa, Oklahoma - News, Weather & Sports

Deadline to Apply for SBA Economic Injury Disaster Loans in Massachusetts is Fast Approaching

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE U.S. Small Business Administration

ATLANTA, May 5, 2014 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes that June 2 is the application deadline for federal economic injury disaster loans available in Berkshire county in Massachusetts as a result of excessive rain and related flooding, winds and hail that began on May 1, 2013.

SBA LOGO

"This county is eligible because it is contiguous to one or more primary counties in New York. The Small Business Administration recognizes that disasters do not usually stop at county or state lines. For that reason, counties adjacent to primary counties named in the declaration are included," said Frank Skaggs, director of SBA's Field Operations Center East.

"When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to help eligible entities affected by the same disaster," added Skaggs.

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, or ranchers. Nurseries are eligible to apply for economic injury disaster loans for losses caused by drought conditions.  

The loan amount can be up to $2 million with interest rates of 2.875 percent for private non-profit organizations of all sizes and 4 percent for small businesses, with 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 the SBA's website at www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. 

Completed loan applications must be returned to SBA no later than June 2, 2014.

For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov.

Release Number: 14-216, NY 13796

Contact: Michael Lampton
Email: Michael.Lampton@sba.gov
Phone: (404) 331-0333

Logo - http://photos.prnewswire.com/prnh/20110909/DC65875LOGO

©2012 PR Newswire. All Rights Reserved.

  • NewsMore>>

  • Motorcycle Event To Boost Local Economy

    Motorcycle Event To Boost Local Economy

    Bikers from across the country are making their way into Tulsa for the 37th National Bikers Roundup. This is the first time the event has come to Green Country and it's being held at the Osage Tulsa Raceway Park. Organizers predict the event could generate up to $5 million for our economy.Biker Larry Harris, also known as Wolf Man, is part of the zodiac motorcycle club in kansas city, Missouri. He said the National Bikers Roundup is an event he refuses to miss."This event means we get a chanc...More >>
    Bikers from across the country are making their way into Tulsa for the 37th National Bikers Roundup. This is the first time the event has come to Green Country and it's being held at the Osage Tulsa Raceway Park. Organizers predict the event could generate up to $5 million for our economy.Biker Larry Harris, also known as Wolf Man, is part of the zodiac motorcycle club in kansas city, Missouri. He said the National Bikers Roundup is an event he refuses to miss."This event means we get a chanc...More >>
  • UPDATE: Joe Mixon Held Out Of Football Activities

    UPDATE: Joe Mixon Held Out Of Football Activities

    The freshman running back has not been arrested by the Norman Police Department.More >>
    The freshman running back has not been arrested by the Norman Police Department.
    More >>
  • Walgreens Hopes To Thwart Pill Thieves

    Walgreens Hopes To Thwart Pill Thieves

    The pace behind the counter at any Walgreens pharmacy is quick and speedy, but starting today, when it comes to certain drugs, the brakes are being applied."Walgreens has expanded the use of C-2 time delay safes for our pharmacies across the state of Oklahoma," said Walgreens' Loss Prevention Manager Mike Schaeffer.The safes will contain the drugs that thieves routinely steal from pharmacy after pharmacy."The quickest way for these individuals to get this is to just walk into one of these pha...More >>
    The pace behind the counter at any Walgreens pharmacy is quick and speedy, but starting today, when it comes to certain drugs, the brakes are being applied."Walgreens has expanded the use of C-2 time delay safes for our pharmacies across the state of Oklahoma," said Walgreens' Loss Prevention Manager Mike Schaeffer.The safes will contain the drugs that thieves routinely steal from pharmacy after pharmacy."The quickest way for these individuals to get this is to just walk into one of these pha...More >>
Powered by WorldNow

P.O. Box 8 Tulsa, OK 74101-0008

Powered by WorldNow

All content © Copyright 2000 - 2014 Worldnow and KTUL. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.