ATLANTA - The U.S. Small Business Administration is reminding businesses in Mississippi that working capital loans are still available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations affected by severe storms and tornadoes that occurred on Nov. 16, 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 Aug. 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 EIDLs are available to small businesses and most private non-profit organizations in Covington, Forrest, Jasper, Jones, Perry, Smith and Wayne counties in Mississippi.
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 firstname.lastname@example.org. Loan applications can 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.
The deadline for economic injury applications is August 29, 2012.
# # #
For more information about the SBA’s Disaster Loan Program, visit our website at www.sba.gov.