ATLANTA (August 8, 2012)—The U.S. Small Business Administration is reminding businesses in Maryland that working capital loans are still available to small businesses, small agricultural cooperatives, small aquaculture businesses and most private non-profit organizations affected by Tropical Storm Lee that occurred from Sept. 6-14, 2011.
"Businesses that suffered economic losses as a result of the disaster and want to apply for low-interest loans from the SBA are urged to do so before theSept. 7, deadline," said Frank Skaggs, director of SBA Field Operations Center East.
Economic Injury Disaster Loans (EIDLs) up to $2 million are available at 3 percent for private non-profit organizations of all sizes and 4 percent for small businesses, with terms up to 30 years. The loans are intended to pay fixed debts, payroll, accounts payable, and other expenses that could have been paid had the disaster not occurred. To be considered for this assistance, disaster survivors need to apply by the deadline.
These EIDLs are available to small businesses and most private non-profit organizations in the following counties: Anne Arundel, Calvert, Charles, Howard, Montgomery and Prince George's in Maryland; Fairfax County and the Independent City of Alexandria in Virginia; and the District of Columbia.
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 SBA's Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or send an email to disastercustomerservice@sba.gov. Loan application forms can also be downloaded from http://www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline for economic injury applications is September 7, 2012.