News Column

Deadline in New York for Small Businesses to Apply for SBA Working Capital Loans Due is June 2

May 22, 2014



By a News Reporter-Staff News Editor at Politics & Government Week -- The U.S. Small Business Administration is reminding businesses in New York that working capital loans are still available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profits affected by freeze and frost that occurred between March 13 and May 28, 2013.

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The loans are available in the following counties: Albany, Cayuga, Columbia, Cortland, Dutchess, Greene, Jefferson, Lewis, Madison, Oneida, Onondaga, Oswego, Rensselaer, Seneca, Tompkins, Ulster and Wayne in New York.

"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 2 deadline," said Frank Skaggs, director of SBA Field Operations Center East in Atlanta.

Economic Injury Disaster Loans (EIDLs) up to $2 million are available at 2.875 percent for private non-profit organizations of all sizes and 4 percent for small businesses, 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.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure website at https://disasterloan.sba.gov/ela.

To obtain disaster loan information and application forms, call the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or send an email to disastercustomerservice@sba.gov. Loan application forms 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.

The deadline for economic injury applications is June 2, 2014.

For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov.

Release Number: 14-212, NY 13797

Keywords for this news article include: U.S. Small Business Administration, Government Agencies Offices and Entities.

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Source: Politics & Government Week


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