SBA Eco­nomic In­jury Dis­as­ter Loans

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Small non­farm busi­nesses in 15 Utah coun­ties are now el­i­gi­ble to ap­ply for low‑-in­ter­est fed­eral dis­as­ter loans from the U.S. Small Busi­ness Ad­min­is­tra­tion, an­nounced Di­rec­tor Tanya N. Garfield of SBA’s Dis­as­ter Field Oper­a­tions Cen­ter-West. These loans off­set eco­nomic losses be­cause of re­duced rev­enues caused by drought in the fol­low­ing pri­mary coun­ties that be­gan April 15, 2018.

Pri­mary Utah coun­ties: Duch­esne, Tooele and Uin­tah;

Neigh­bor­ing Utah coun­ties: Box El­der, Car­bon, Daggett, Davis, Emery, Grand, Juab, Salt Lake, Sum­mit, Utah, Wasatch and We­ber.

“SBA el­i­gi­bil­ity cov­ers both the eco­nomic im­pacts on busi­nesses de­pen­dent on farm­ers and ranch­ers that have suf­fered agri­cul­tural pro­duc­tion losses caused by the dis­as­ter and busi­nesses di­rectly im­pacted by the dis­as­ter,” Garfield said.

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 of up to $2 mil­lion to help meet fi­nan­cial obli­ga­tions and op­er­at­ing ex­penses which could have been met had the dis­as­ter not oc­curred.

“El­i­gi­bil­ity for these loans is based on the fi­nan­cial im­pact of the dis­as­ter only and not on any ac­tual prop­erty dam­age. These loans have an in­ter­est rate of 3.58 per­cent for busi­nesses and 2.5 per­cent for pri­vate non­profit or­ga­ni­za­tions, a max­i­mum term of 30 years and are avail­able to small busi­nesses and most pri­vate non prof­its with­out the fi­nan­cial abil­ity to off­set the ad­verse im­pact with­out hard­ship,” Garfield said.

Ap­pli­cants may ap­ply on­line, re­ceive ad­di­tional dis­as­ter as­sis­tance in­for­ma­tion and down­load ap­pli­ca­tions at https:// dis­as­ter­loan.sba.gov/ela. Ap­pli­cants may also call SBA’s Cus­tomer Ser­vice Cen­ter at (800) 659-2955 or email dis­as­ter­cus­tom­erser­vice@sba.The dead­line to ap­ply for eco­nomic in­jury is Feb. 15, 2019.

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