The U.S. Small Business Administration is reminding businesses in New Hampshire that Economic Injury Disaster Loans are still available to small businesses and non-profit organizations of all sizes affected by the severe storms and flooding that occurred on Feb. 26, 2010 through March 14, 2010.
“Businesses and non- profit organizations 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 Feb. 4 deadline,” said Frank Skaggs, director of SBA Field Operations Center East in Atlanta.
The maximum loan amount is $2 million for small businesses and non-profit organizations that suffered substantial economic injury from the disaster. 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.
The interest rates on these loans are 3 percent for non-profit organizations and 4 percent for businesses, with a maximum term of 30 years. The SBA determines the amount of economic injury and the terms of each loan based on the financial circumstances of each borrower. Eligibility for the program is determined by the SBA, based on the size and type of business, and its financial resources.
To obtain disaster loan information and application forms, call the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for people with speech or hearing disabilities) Monday through Friday from 8 a.m. to 6 p.m. ET, or send an e-mail to disastercustomerservice@sba.gov. Business disaster loan applications can also be downloaded from 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.
Interested business owners and non-profit organizations may visit the SBA’s secure website at https://disasterloan.sba.gov/ela/ to apply for disaster loans.
The deadline for economic injury applications is February 4, 2011.
Small businesses in the following counties are eligible to apply: Belknap, Carroll, Cheshire, Coos, Grafton, Hillsborough, Merrimack, Rockingham, Strafford and Sullivan in New Hampshire; Essex, Middlesex and Worcester counties in Massachusetts; York County in Maine and Caledonia, Essex, Orange and Windsor counties in Vermont.