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TN 15186 - Deadline Approaching in Tennessee for SBA Working Capital Loans Due to Excessive Rain, High Winds and Hail

ATLANTA - The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations that Feb. 21, 2018 is the filing deadline for federal economic injury disaster loans in Tennessee as a result of excessive rain, high winds and hail on April 22, 2017. 
 
This disaster declaration includes the following counties: Bedford, Franklin, Giles, Lincoln, Marshall, and Moore in Tennessee.
 
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. 
 
The loans are for working capital and can be up to $2 million with interest rates of 3.215 percent for eligible small businesses and 2.5 percent for nonprofit organizations, and terms up to 30 years. 
 
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/disaster. 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 Feb. 21, 2018.
Release Number: 
18-237
Release Date: 
Friday, January 19, 2018 - 12:00am
Contact: 
Michael Lampton
Related State: 
Tennessee
Field Operations Center: 
East