SBA deadline looms for victims of flooding, cold snap
by MBJ Staff
Published: July 14,2014
ACROSS MISSISSIPPI — The U.S. Small Business Administration is reminding small businesses that Aug. 11 is the filing deadline for federal economic injury disaster loans in Mississippi as a result of excessive rainfall and cooler than normal temperatures that occurred from March 1 through July 31, 2013.
The disaster declaration includes the counties of Adams, Alcorn, Amite, Attala, Benton, Bolivar, Calhoun, Carroll, Chickasaw, Choctaw, Claiborne, Clay, Coahoma, Copiah, Covington, DeSoto, Franklin, Grenada, Holmes, Humphreys, Itawamba, Jefferson, Jefferson Davis, Lafayette, Lamar, Lawrence, Lee, Leflore, Lincoln, Lowndes, Marion, Marshall, Monroe, Montgomery, Noxubee, Oktibbeha, Panola, Pontotoc, Prentiss, Quitman, Simpson, Sunflower, Tallahatchie, Tate, Tippah, Tishomingo, Tunica, Union, Webster, Wilkinson, Winston and Yalobusha.
Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, or ranchers.
The working capital loan amount can be up to $2 million with interest rates as low as 4 percent for eligible small businesses and 2.875 percent for non-profit organizations with terms up to 30 years.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to email@example.com. Loan applications can be downloaded from the SBA’s website at www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
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