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SBA economic injury loan deadline nearing

ACROSS MISSISSIPPI — The U.S. Small Business Administration reminds small businesses, small agricultural cooperatives and most private non-profit organizations of all sizes in parts of Mississippi of the May 2 deadline to apply for economic injury disaster loan assistance.

The loans are available due to flooding that occurred from May 1 through June 30, 2010.

Under this declaration, SBA Economic Injury Disaster Loans are available to eligible farm-related and non-farm-related entities that suffered financial losses as a direct result of this disaster. These loans can be up to $2 million with terms not exceeding 30 years. Interest rates are 4 percent for businesses and 3 percent for non-profit organizations. Farmers, ranchers and agricultural producers are not eligible to apply to SBA.

The disaster loans are available in Adams, Claiborne, Coahoma, Copiah, DeSoto, Franklin, Hinds, Humphreys, Issaquena, Jefferson, Lincoln, Panola, Quitman, Sharkey, Tate, Tunica, Warren, Washington, Wilkinson and Yazoo counties in Mississippi.

To obtain disaster loan information and application forms call the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for people with speech or hearing disabilities), or send an e-mail to disastercustomerservice@sba.gov. Loan applications can be downloaded from the SBA’s website at www.sba.gov. Mail completed applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Those affected by the disaster may apply for disaster loans from SBA’s secure website at https://disasterloan.sba.gov/ela/.

Completed loan applications should be returned to SBA no later than May 2, 2011.

Source: U.S. Small Business Administration

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