disaster loan

SBA Deadline to Apply for Working Capital Loans for 2017 Frost and Freeze in Georgia

Dan Economy, Georgia, Industry News Release

working capital loansThe  U.S. Small Business Administration is reminding businesses in Georgia that working capital loans are still available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations located in the counties of Burke, Columbia, Richmond and Screven in Georgia as a result of the frost and freeze on March 4 – 17, 2017.

“Businesses that suffered economic losses as a result of the disaster and want to apply for low-interest loans from the SBA are urged to do so before the June 13 deadline,” said Richard Morgan, acting director of SBA Field Operations Center East. “These counties are eligible because they are contiguous to one or more primary counties in South Carolina. The Small Business Administration recognizes that disasters do not usually stop at county or state lines. For that reason, counties adjacent to primary counties named in the declaration are included.”

Working capital disaster loans up to $2 million are available at 3.15 percent for small businesses, and 2.5 percent for private nonprofit organizations with terms up to 30 years. The loans 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, eligible entities need to apply by the deadline.

Survivors may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoan.sba.gov.

Businesses may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing disastercustomerservice@sba.gov. Loan applications can also be downloaded at sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to return economic injury applications is June 13, 2018.