Small businesses in
"Small, nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private, nonprofit organizations of any size may qualify for Economic Injury Disaster Loans (EIDLs) of up to
"These loans may be used to pay fixed long term debts, payroll, accounts payable and other bills that couldn't be paid because of the disaster's impact. Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue they experienced," Woosley added.
Eligibility is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4 percent for small businesses and 2.875 percent for private, nonprofit organizations with terms up to 30 years, and are restricted to small businesses without the financial ability to offset the adverse impact without hardship.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure Web site at https://disasterloan.sba.gov/ela.
For owners of these impacted small businesses, disaster loan information and application forms are also available from
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