Sign up for email updates from SBAReceive helpful business tips and upcoming events in your area.


Birmingham District Office
801 Tom Martin Drive Suite #201
Birmingham, AL 35211
United States
Phone: 205-290-7101
Fax: 205-290-7404
Hours of Operation:
Monday through Friday from 8:00 AM to 4:30 PM
SBA Disaster Loans Available in Florida Following Secretary of Agriculture Disaster Declaration for Drought

Advisory Date: Monday, May 13, 2013
Release Date: Monday, May 13, 2013
Release Number: 13-544, FL 13564
Contact: Michael Lampton, Michael.Lampton@sba.gov; (404) 331-0333

ATLANTA - The U.S. Small Business Administration announced today that federal economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in several counties in Florida as a result of the drought between March 5 and April 29, 2013.

 

This SBA disaster declaration includes the following counties:  Alachua, Brevard, Citrus, Flagler, Lake, Levy, Marion, Orange, Osceola, Polk, Putnam, Seminole, Sumter and Volusia.

 

“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 assist eligible entities affected by the same disaster,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.

 

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.

 

Loan amounts can be up to $2 million, with interest rates of 2.875 percent for non-profit organizations and 4 percent for small businesses.  Terms can be up to 30 years.  The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources.  The agency sets loan amounts and terms 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 e-mail to disastercustomerservice@sba.gov.  Loan applications can be downloaded from the SBA’s website at http://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 January 2, 2014.

 

# # #

Encore Entrepreneurs

An Introduction to Starting Your Own Business

LAUNCH COURSE

Need Help Writing a Business Plan? Our step-by-step tool makes it easy.  Start Your plan.

Get Local Assistance Right in Your Area

Counseling, mentoring, and training from an SBA District Office, SCORE Chapter, Small Biz Development Center or Women’s Biz Center in your area.

FIND RESOURCES