Home » NEWS » Manufacturing » SBA loan deadline looms

SBA loan deadline looms

ACROSS MISSISSIPPI — The U.S. Small Business Administration (SBA) is reminding businesses in Mississippi that Economic Injury Disaster Loans are still available to small businesses economically impacted by Hurricane Gustav that occurred Aug. 28-Sept. 8, 2008. The loan deadline is June 26.

Small businesses in the following counties are eligible to apply: Adams, Amite, Bolivar, Franklin, Hancock, Harrison, Humphreys, Issaquena, Jackson, Jefferson, Pearl River, Sharkey, Stone, Sunflower Washington and Wilkinson.

Loans are available up to $2 million for small businesses 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 each borrower. The SBA determines eligibility for the program based on the size and type of business and its financial resources.

To obtain a loan application, interested business owners should contact the SBA’s Customer Service Center by calling toll-free 1-800-659-2955 (1-800-877-8339 for the hearing-impaired), or by sending an e-mail to disastercustomerservice@sba.gov. 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 also visit the SBAs secure website at https://disasterloan.sba.gov/ela/ to apply for disaster loans.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Wally Northway

Leave a Reply

Your email address will not be published. Required fields are marked *

*