|By PR Newswire||
|April 18, 2014 11:35 AM EDT||
ATLANTA, April 18, 2014 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes that May 19 is the application deadline for federal economic injury disaster loans available in Carter, Cocke, Greene, Johnson and Unicoi counties in Tennessee as a result of excessive rain and flooding beginning May 1, 2013.
"These counties are eligible because they are contiguous to one or more primary counties in North 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," said Frank Skaggs, director of SBA's Field Operations Center East.
"When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to help eligible entities affected by the same disaster," added Skaggs.
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. Nurseries are eligible to apply for economic injury disaster loans for losses caused by drought conditions
The loan amount can be up to $2 million with interest rates of 2.875 percent for private non-profit organizations of all sizes and 4 percent for small businesses, with terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant's financial condition. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.
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 protected]. 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.
Completed loan applications must be returned to SBA no later than May 19, 2014.
For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov.
Release Number: 14-190, NC 13774
Contact: Michael Lampton
Email: [email protected]
Phone: (404) 331-0333
SOURCE U.S. Small Business Administration
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Aug. 26, 2016 10:15 AM EDT Reads: 3,561
Aug. 26, 2016 09:45 AM EDT Reads: 1,809
Aug. 26, 2016 09:45 AM EDT Reads: 119
Aug. 26, 2016 09:00 AM EDT Reads: 2,211
Aug. 26, 2016 07:00 AM EDT Reads: 3,904
Aug. 26, 2016 05:00 AM EDT Reads: 3,023
Aug. 26, 2016 03:15 AM EDT Reads: 1,406
Aug. 26, 2016 02:15 AM EDT Reads: 1,947
Aug. 26, 2016 01:30 AM EDT Reads: 1,665
Aug. 26, 2016 01:15 AM EDT Reads: 2,017
Aug. 26, 2016 01:00 AM EDT Reads: 1,956
Aug. 26, 2016 12:45 AM EDT Reads: 2,264
Aug. 26, 2016 12:30 AM EDT Reads: 2,903
Aug. 25, 2016 11:45 PM EDT Reads: 2,287
Aug. 25, 2016 10:45 PM EDT Reads: 1,878