The U.S. Small Business Administration (SBA) announced Aug. 30, that federal Economic injury Disaster Loans are available in Georgia for small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations with economic losses due to high winds from March 1-30, 2022.
The declaration specifically included the Georgia counties of Putman, Greene, Jasper and Morgan, plus adjacent counties Baldwin, Butts, Hancock, Jones, Monroe, Newton, Oconee, Oglethorpe, Taliaferro, and Walton.
This SBA Economic Injury Disaster Loan (EIDL) program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster.
Apart from aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, or ranchers.
The loan amount can be up to $2 million with interest rates up to 2.94 percent for small businesses and 1.875 percent for private nonprofit organizations, with terms up to 30 years. These working capital loans may be used to pay fixed debts, payroll, accounts payable, or other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.
Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at DisasterLoanAssistance.sba.gov/ela/s/ and should apply under SBA declaration #17604.
Disaster loan information and application forms also may be obtained by calling the SBA’s Customer Service Center at (800) 659-2955, or by sending an email to DisasterCustomerService@sba.gov.
Loan applications also can be downloaded from the SBA website at 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 submitted to the SBA no later than April 17, 2023.
– Contributed