Deadline approaching for oil spill recovery loans from SBA
by Wally Northway
Published: February 1,2011
SOUTH MISSISSIPPI — The U.S. Small Business Administration is reminding small businesses in Mississippi affected by the Deepwater BP Oil Spill that only two weeks remain to apply for working capital loans.
“Businesses that suffered economic losses as a result of the oil spill and want to apply for low-interest loans from the SBA are urged to do so before the Feb. 14 deadline,” said Frank Skaggs, director of SBA Field Operations Center East.
Economic Injury Disaster Loans (EIDLs) up to $2 million are available at 4 percent for small businesses and 3 percent for private non-profit organizations of all sizes, with terms up to 30 years. These EIDLs are intended to pay fixed debts, payroll, accounts payable, and other expenses that could have been paid had the disaster not occurred. To be considered for this assistance, disaster victims need to apply by the deadline.
The loans are available to small businesses and most private non-profit organizations in the following counties: Forrest, George, Greene, Hancock, Harrison, Jackson, Lamar, Marion, Pearl River, Perry and Stone.
For more information on the SBA’s Disaster Loan Program, to obtain application forms or to apply online visit www.sba.gov, send an email to firstname.lastname@example.org or call the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Chris McDaniel gets a thank you note from Travis Childers
- Senate passes teacher pay raise legislation
- The First acquiring Alabama bank in cash/stock deal
- Pickering collects more money from failed beef plant project
- Lawmakers debating alternative to Medicaid expansion
- Todd Smith's Spin Cycle — Not milk! It’s end of era for milk industry’s iconic ‘Got Milk?’ campaign
- States settle with manufacturers in DRAM price-fixing case
- District at Eastover takes shape with financing in place, tenant signings under way
- MBJ's Businesswoman of the Year never expected her career to take this path
- Mississippi ag aviation plays a critical role in production and profitability