The U.S. Small Business Administration is reminding small businesses affected by the severe storms and flooding that occurred from Sept. 18 through Oct. 8, 2009 in Georgia that June 24 is the filing deadline for Economic Injury Disaster Loans.
Small businesses and most private non-profit organizations in the following counties are eligible to apply: Banks, Barrow, Bartow, Butts, Carroll, Catoosa, Chattooga, Cherokee, Clayton, Cobb, Coweta, Dade, Dawson, DeKalb, Douglas, Fayette, Floyd, Forsyth, Franklin, Fulton, Gordon, Gwinnett, Habersham, Hall, Haralson, Heard, Henry, Jackson, Jasper, Meriwether, Morgan, Newton, Paulding, Pickens, Polk, Rockdale, Spalding, Stephens, Troup, Walker, Walton and Whitfield in Georgia; Cherokee, Cleburne, DeKalb and Randolph in Alabama; Oconee in South Carolina; and Hamilton County in Tennessee.
Loans are available up to $2 million for eligible entities that suffered substantial economic injury from the disaster. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. These loans are not intended to replace lost sales or profits.
The interest rate on these loans is 4 percent with a maximum term of 30 years. The SBA determines the amount of economic injury and the terms of each loan based on the financial circumstances of the applicant. Eligibility for the program is based on the size and type of business, and its financial resources.
To obtain a loan application, businesses should contact the SBA’s Customer Service Center by calling 800-659-2955 (800-877-8339 for people with speech and hearing disabilities) Monday through Friday from 8 a.m. to 6 p.m.; Saturday and Sunday from 9 a.m. to 5:30 p.m. EDT or by sending an e-mail to firstname.lastname@example.org. Business disaster loan applications can also be downloaded from www.sba.gov/services/disasterassistance. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
Victims may visit the SBA’s secure website at https://disasterloan.sba.gov/ela/ to apply for disaster loans.
The deadline for economic injury applications is June 24, 2010.