SBA Deadline Approaching for Michigan Small Businesses to Apply for Working Capital Loans Affected by Severe Storms, Flooding and Tornadoes
… in Michigan . The loan amount can be up to $2 million with interest rates of 2.88 percent for small businesses and … 2 percent for private nonprofit organizations, with terms up to 30 years. The SBA determines eligibility … to replace lost sales or profits. Applicants may apply online using the Electronic Loan Application (ELA) via the …