SACRAMENTO, Calif. – Karen Mills, Administrator of the U. S. Small Business Administration (SBA), today announced that SBA is making low-interest Economic Injury Disaster Loans available to small businesses economically impacted by the collapse of the Interstate 5 Bridge in Skagit County. The collapse occurred over the Skagit River between Mount Vernon and Burlington on May 23, 2013. SBA acted under its own authority to declare a disaster in response to a request SBA received from Gov. Jay Inslee on June 25, 2013.
The declaration covers Skagit County and the contiguous counties of Chelan, Island, Okanogan, Snohomish and Whatcom.
“The U. S. Small Business Administration is strongly committed to providing the most effective and customer-focused response possible to assist Washington’s small businesses with federal disaster loans. We will be swift in our efforts to help these small businesses recover from the financial impacts of this disaster,” said Administrator Mills.
“Beginning Friday, June 28 at 8 am, SBA representatives will be on hand at the following Disaster Loan Outreach Center to issue loan applications, answer questions about SBA’s economic injury disaster loan program, explain the application process and help each individual complete their application,” said SBA’s Seattle District Director Nancy Porzio. The center will be open on the days and times indicated until further notice. No appointment is necessary.
Disaster Loan Outreach Center
Economic Development Association of Skagit County (EDASC)
204 West Montgomery, Mount Vernon, WA 98273
Opens Friday, June 28 at 8 am
Hours: 8 am – 5 pm; Mondays through Fridays
Closed for Independence Day Holiday, Thursday July 4
The office will close on Thursday, July 11 at 5 pm
Washington Small Business Development Center (WSBDC) representatives will be available to assist on a wide variety of matters to help these business owners re-establish their operations. This includes how to overcome the effects of the disaster, assessing business economic injury plans for their future and a review of all options to ensure each business makes decisions that are appropriate for its situation. No appointment is necessary, and all services are provided free of charge.
“Small, nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private, nonprofit organizations of any size may qualify for Economic Injury Disaster Loans (EIDLs) of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred,” Porzio continued.
“These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue they are experiencing,” Porzio added.
Eligibility is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4 percent for small businesses and 2.875 percent for private, nonprofit organizations with terms up to 30 years, and are restricted to small businesses without the financial ability to offset the adverse impact without hardship.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955, e-mailing firstname.lastname@example.org or visiting SBA’s Web site at http://www.sba.gov/services/disasterassistance. Individuals who are deaf or hard-of-hearing may call (800) 877-8339.
The deadline to return economic injury applications is March 27, 2014.
SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841
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