CON­TRIB­UTED PHO­TOS Dead­line for fed­eral eco­nomic in­jury dis­as­ter loans ap­proach­ing

Sunday Star - - BUSINESS -

The U.S. Small Busi­ness Ad­min­is­tra­tion is re­mind­ing small busi­nesses, small agri­cul­tural co­op­er­a­tives, small busi­nesses en­gaged in aqua­cul­ture and most pri­vate non­profit or­ga­ni­za­tions that Jan. 17 is the fil­ing dead­line for fed­eral eco­nomic in­jury dis­as­ter loans.

Queen Anne’s, Caro­line, Dorch­ester, Kent, Wi­comico and Worces­ter coun­ties in Mary­land qual­ify to ap­ply as a re­sult of the drought from June 1 to Sept. 29 in 2016.

The loans are for work­ing cap­i­tal and can be up to $2 mil­lion with in­ter­est rates of four per­cent for el­i­gi­ble small busi­nesses, and 2.625 per­cent for non­profit or­ga­ni­za­tions, and terms up to 30 years.

Un­der this dec­la­ra­tion, the Small Busi­ness Ad­min­is­tra­tion’s Eco­nomic in­jur y 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, Small Busi­ness Ad­min­is­tra­tion can­not pro­vide dis­as­ter loans to agri­cul­tural pro­duc­ers, farm­ers or ranch­ers. Nurs­eries are el­i­gi­ble to ap­ply for eco­nomic in­jury dis­as­ter loans for losses caused by drought con­di­tions.

Ap­pli­cants may ap­ply on­line us­ing the Elec­tronic Loan Ap­pli­ca­tion via the Small Busi­ness Ad­min­is­tra­tion’s se­cure web­site at https://dis­as­ter­loan.sba.gov/ela.

Dis­as­ter loan in­for­ma­tion and ap­pli­ca­tion forms may also be ob­tained by called the ad­min­is­tra­tion’s Cus­tomer Ser­vice Cen­ter at 800-6592955 (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 ad­min­is­tra­tion’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, Texas, 76155.

Com­pleted loan ap­pli­ca­tions must be re­turned no later than Jan. 17, 2018.

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