News Column

Secretary of Agriculture Declaration Deadline Approaching in Michigan for SBA Working Capital Loans

June 12, 2014



ATLANTA, June 12 -- The Small Business Administration's Office of Disaster Assistance issued the following news release:

The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes that July 14 is the filing deadline for federal economic injury disaster loans in Michigan as a result of hail from June 10 through Aug. 2, 2013.

The loans are available in the following Michigan counties: Bay, Calhoun, Eaton, Genesee, Gratiot, Hillsdale, Huron, Ingham, Jackson, Lenawee, Livingston, Midland, Monroe, Oakland, Saginaw, Sanilac, Shiawassee, Tuscola, Washtenaw and Wayne.

Under this declaration, the SBA's Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, or ranchers.

The loans are for working capital and can be up to $2 million with interest rates of 4 percent for eligible small businesses and 2.875 percent for non-profit organizations, and terms up to 30 years.

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

Disaster loan information and application forms may also be obtained by calling the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@sba.gov. Loan applications can be downloaded from the SBA's website at 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.

Completed loan applications must be returned to SBA no later than July 14, 2014.

TNS 30BautistaJude 140613-4765476 30BautistaJude


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Targeted News Service