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NM 13761-01 SBA Offers Disaster Assistance to New Mexico Small Businesses Economically Impacted by the Severe Hailstorm and Flooding

SACRAMENTO, Calif. – The U. S. Small Business Administration (SBA) is offering low-interest working capital federal disaster loans to small businesses economically impacted by the severe hailstorm and flooding that occurred on July 2 and 3, SBA Acting Administrator Jeanne Hulit said today.  SBA acted under its own authority to declare a disaster following a request received on September 6, from Governor Susana Martinez. 

The disaster declaration makes SBA disaster assistance available in Guadalupe County and the neighboring counties of De Baca, Lincoln, Quay, San Miguel and Torrance.

“The U. S. Small Business Administration is strongly committed to providing the most effective and customer-focused response possible to assist New Mexico’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 Acting Administrator Hulit.

“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,” said SBA’s New Mexico District Director John C. Woosley. 

“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,” Woosley 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 SBA’s secure Web site at https://disasterloan.sba.gov/ela.

The New Mexico Small Business Development Center (SBDC) is offering free, personalized counseling to help affected business owners in their recovery.  Business owners may contact the SBDC in Las Vegas, NM from 8 am to 5 pm, Monday through Friday, either by telephone (505) 454-2582 or by visiting their office at Luna Community College, 366 Luna Drive, Las Vegas New Mexico, 87701. 

For owners of these impacted small businesses, disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or e-mailing disastercustomerservice@sba.gov. Individuals who are deaf or hard of hearing may call (800) 877-8339.  For more information about SBA’s disaster assistance programs, visit http://www.sba.gov/disaster.

The deadline to return economic injury applications is June 10, 2014.

SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841
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Release Number: 
NM 13761-01
Release Date: 
Tuesday, September 10, 2013 - 4:00am
Richard Jenkins (916) 735-1500
Related State: 
New Mexico
Field Operations Center: