News Column

SBA Announces Application Deadline for New Mexico Small Businesses Economically Impacted by the 2013 Severe Hailstorm and Flooding

May 30, 2014



SACRAMENTO, Calif., May 30 -- The Small Business Administration's Office of Disaster Assistance issued the following news release:

John C. Woosley, Director of the U. S. Small Business Administration's (SBA) New Mexico District Office announced today that small businesses have until June 10, 2014, to apply for SBA Economic Injury Disaster Loans (EIDL). "These low-interest federal disaster loans are available to small businesses for working capital needs as a result of the severe hailstorm and flooding that occurred July 2 through July 3, 2013," Woosley said today.

Small businesses in Guadalupe County and the neighboring New Mexico counties of De Baca, Lincoln, Quay, San Miguel and Torrance are eligible to apply for these working capital loans.

"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 $2 million to help meet financial obligations and operating expenses that could have been met had the disaster not occurred," said Woosley.

"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 SBA's Customer Service Center by calling toll-free at (800) 659-2955 or e-mailing disastercustomerservice@sba.gov. Individuals who are deaf or hard of hearing may call (800) 877-8339. For more information about SBA's disaster assistance programs, visit http://www.sba.gov/disaster.

TNS 30BautistaJude 140531-4752718 30BautistaJude


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Source: Targeted News Service


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