ATLANTA - The U.S. Small Business Administration is reminding businesses in Virginia that working capital loans are still available to small businesses, small agricultural cooperatives and most private non-profit organizations that were affected by the severe storms and tornadoes that occurred on April 27, 2011.
“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 March 29 deadline,” said Frank Skaggs, director of SBA Field Operations Center East.
Economic Injury Disaster Loans (EIDLs) up to $2 million are available at 3 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, disaster survivors need to apply by the deadline.
These working capital loans are available to businesses and non-profit organizations in the following counties: Grayson, Russell, Scott, Smyth and Washington and the Independent City of Bristol in Virginia; Johnson and Sullivan in Tennessee.
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 e-mail to email@example.com. Loan application forms can also be downloaded from 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.
Those affected by the disaster may also apply for disaster loans electronically from the SBA’s website at https://disasterloan.sba.gov/ela/.
The deadline for economic injury applications is March 29, 2012.
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For more information about the SBA’s Disaster Loan Program, visit our website at www.sba.gov.