One Month Left to Apply for SBA Disaster Loans

SACRAMENTO, Calif. – District Director Tim Jeffcoat of the U.S. Small Business Administration’s Houston District Office, today reminded Texas small businesses of the Dec. 19 deadline to apply for an SBA federal disaster loan for economic injury caused by severe storms, tornadoes and flooding in Erath, Gregg, Harrison, Henderson, Hood, Jasper, Limestone, Marion, Newton, Orange, Parker, Shelby and Tyler counties that that occurred March 7-29, 2016.

 
According to Jeffcoat, small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for Economic Injury Disaster Loans of up to $2 million to help meet working capital needs caused by the disaster.

The interest rate is 4 percent for businesses and 2.625 percent for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

Applicants may apply online using SBA’s secure website at https://disasterloan.sba.gov/ela.

Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or emailingdisastercustomerservice@sba.gov. Individuals who are deaf or hardofhearing may call (800) 877-8339.

For more disaster assistance information or to download applications, visit https://www.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.

 
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