ATLANTA – The U.S. Small Business Administration announces today that federal economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in Maryland because of drought and excessive heat that occurred on June 1 through Aug. 30, 2011.<\/p>\n
These loans are available in the counties of Caroline, Dorchester, Kent, Queen Anne\u2019s, Wicomico and Worcester in Maryland.<\/p>\n
\u201cThese counties are eligible because they are contiguous to one or more primary counties in Delaware.\u00a0 The Small Business Administration recognizes that disasters do not usually stop at county or state lines. For that reason, counties adjacent to primary counties named in the declaration are included,\u201d said Frank Skaggs, director of SBA\u2019s Field Operations Center East in Atlanta.<\/p>\n
\u201cWhen the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to assist eligible entities affected by the same disaster,\u201d Skaggs added.<\/p>\n
Under this declaration, the SBA\u2019s 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 aquacultural enterprises, agricultural producers, farmers and ranchers are not eligible to apply to SBA, but nurseries are eligible to apply for economic injury disaster loans for losses caused by drought conditions.<\/p>\n
Loan amounts can be up to $2 million, with interest rates of 3 percent for non-profit organizations and 4 percent for small businesses.\u00a0 Terms can be up to 30 years.\u00a0 The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources.\u00a0 The agency sets loan amounts and terms based on each applicant\u2019s financial condition.\u00a0 These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.\u00a0 The loans are not intended to replace lost sales or profits.<\/p>\n
Disaster loan information and application forms may be obtained by calling the SBA\u2019s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) Monday through Friday from 8 a.m. to 8 p.m., and Saturday and Sunday from 9 a.m. to 5:30 p.m. ET or by sending an email to\u00a0disastercustomerservice@sba.gov<\/a>.\u00a0 Loan applications can be downloaded from the SBA\u2019s website at\u00a0www.sba.gov<\/a>.\u00a0 Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.<\/p>\n Those affected by the disaster may also apply for disaster loans electronically from SBA\u2019s website at\u00a0https:\/\/disasterloan.sba.gov\/ela\/<\/a>.<\/p>\n Completed loan applications must be returned to SBA no later than May 30, 2012.<\/p>\n","protected":false},"excerpt":{"rendered":" ATLANTA – The U.S. Small Business Administration announces today that federal economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in Maryland because of drought and excessive heat that occurred on June 1 through Aug. 30, 2011. These Read the Rest…<\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[1],"tags":[81,236],"class_list":["post-329","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-disaster-loans","tag-sba"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t