SBA still urging oil spill recovery loan applications
Published: December 8,2010
MISSISSIPPI GULF COAST — The U.S. Small Business Administration (SBA) is urging small businesses in Mississippi suffering financial losses due to the Deepwater BP oil spill to apply for economic injury disaster loans.
The SBA is offering working capital loans up to $2 million at 4 percent interest with terms up to 30 years. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that could have been paid had the disaster not occurred.
Small businesses, small agricultural cooperatives and most non-profit organizations are eligible in the counties of Forrest, George, Greene, Hancock, Harrison, Jackson, Lamar, Marion, Pear River, Perry and Stone.
The SBA also encourages businesses to file claims with BP. Borrowers may be required to use claim payments to help repay these disaster loans.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Molpus closes Fund after more than $662M in commitments
- MSU reminding fans that drones are prohibited at football games
- DeSoto County Supervisor Lee dies in ATV accident on his birthday
- Politics of paying for transportation: Hand wringing and a lot of talk
- Realtors chooses Nita Wingard
- No debate, but Cochran and Childers lobby for votes for Senate
- Entergy agrees to cut $35M from its new rate plan
- Ford Foundation gives to UM for new science building
- Kemper County plant will cost at least another $496M to complete