Deadline approaching for oil spill recovery loans from SBA
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
- DAVID DALLAS — Cannabis for the rest of us
- MARTY WISEMAN: The current racial strife and the failure to educate
- Source: Bryant has offered Glenn McCullough MDA job
- BILL CRAWFORD: Boyce takes hot spot as IHL commissioner
- Planters Bank promotes at 3 locations
- COMMERCIAL FINANCE 701: Loans disguised as government bonds (BOANs)
- (WITH VIDEO) Funding secured for Capitol Art Lofts in downtown Jackson
- Real Estate Forum panelists: Lenders, investors hungry for deals on residential rentals in Miss., elsewhere
- Two new casinos like the odds on Mississippi Gulf Coast