SACRAMENTO, Calif. –
The U.S. Small Business Administration (SBA) is offering low-interest federal loans for working capital to small businesses economically impacted by landslide and State Highway 14 closure that began on February 18, 2016, SBA Administrator Maria Contreras-Sweet announced today. SBA acted under its own authority to declare a disaster following a request received on May 5, from Gov. C.L. “Butch” Otter.
The disaster declaration makes SBA assistance available in Adams, Clearwater, Idaho, Lemhi, Lewis, Nez Perce and Valley counties in Idaho; Missoula and Ravalli counties in Montana; and Wallowa County in Oregon.
“SBA is strongly committed to providing the most effective and customer-focused response possible to assist Idaho’s small businesses with federal disaster loans. We will be swift in our efforts to help these small businesses recover from the financial impacts of this disaster,” said Administrator Contreras-Sweet.
“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,” said SBA’s Regional Administer Calvin Goings.
“These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue they are experiencing,” Goings added.
Eligibility is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4 percent for small businesses and 2.625 percent for private nonprofit organizations with terms up to 30 years, and are restricted to small businesses without the financial ability to offset the adverse impact without hardship.
Applicants may apply online using SBA’s secure website at
https://disasterloan.sba.gov/ela
.
The Lewiston Small Business Development Center (SBDC) is offering free, personalized counseling to help affected businesses in their recovery. Businesses may contact the SBDC by telephone at (208) 792-2465 between 8 a.m. - 5 p.m. Mondays through Thursdays, and 8 a.m. – 12 p.m. on Fridays.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or emailing
disastercustomerservice@sba.gov
. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. For more disaster assistance information or to download applications, visit
. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for economic injury is Feb. 9, 2017.
# # #
SACRAMENTO, Calif. –
The U.S. Small Business Administration (SBA) is offering low-interest federal loans for working capital to small businesses economically impacted by landslide and State Highway 14 closure that began on February 18, 2016, SBA Administrator Maria Contreras-Sweet announced today. SBA acted under its own authority to declare a disaster following a request received on May 5, from Gov. C.L. “Butch” Otter.
SACRAMENTO, Calif. –
The disaster declaration makes SBA assistance available in Adams, Clearwater, Idaho, Lemhi, Lewis, Nez Perce and Valley counties in Idaho; Missoula and Ravalli counties in Montana; and Wallowa County in Oregon.
“SBA is strongly committed to providing the most effective and customer-focused response possible to assist Idaho’s small businesses with federal disaster loans. We will be swift in our efforts to help these small businesses recover from the financial impacts of this disaster,” said Administrator Contreras-Sweet.
“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,” said SBA’s Regional Administer Calvin Goings.
“These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue they are experiencing,” Goings added.
Eligibility is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4 percent for small businesses and 2.625 percent for private nonprofit organizations with terms up to 30 years, and are restricted to small businesses without the financial ability to offset the adverse impact without hardship.
Applicants may apply online using SBA’s secure website at
https://disasterloan.sba.gov/ela
.
The Lewiston Small Business Development Center (SBDC) is offering free, personalized counseling to help affected businesses in their recovery. Businesses may contact the SBDC by telephone at (208) 792-2465 between 8 a.m. - 5 p.m. Mondays through Thursdays, and 8 a.m. – 12 p.m. on Fridays.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or emailing
disastercustomerservice@sba.gov
. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. For more disaster assistance information or to download applications, visit
. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for economic injury is Feb. 9, 2017.
# # #