Secretary of Agriculture Declaration Deadline Approaching in Alabama for SBA Working Capital Loans - WTVM.com-Columbus, GA News Weather & Sports

Secretary of Agriculture Declaration Deadline Approaching in Alabama for SBA Working Capital Loans

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SOURCE U.S. Small Business Administration

ATLANTA, June 12, 2014 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes that July 14 is the filing deadline for federal economic injury disaster loans available in Baldwin and Escambia counties in Alabama as a result of excessive rain from May 1 through Sept. 25, 2013.

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"These counties are eligible because they are contiguous to one or more primary counties in Florida.  The Small Business Administration recognizes that disasters do not usually stop at county or state lines. For that reason, counties adjacent to primary counties named in the declaration are included," said Frank Skaggs, director of SBA's Field Operations Center East in Atlanta.

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 4 percent for eligible small businesses and 2.875 percent for non-profit 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 July 14, 2014.

For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov/disaster.

Release Number: 14-262 FL 13820

Contact: Michael Lampton
Email: Michael.Lampton@sba.gov
Phone: (404) 331-0333

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