The U.S. Small Business Administration is reminding businesses in
Virginia
that working capital loans are still available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations affected by Hurricane Matthew on Oct. 7, 2016. The deadline to apply for a working capital disaster loan is
Aug. 2, 2017
.
“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 the
Aug. 2
deadline,” said Frank Skaggs, director of SBA Field Operations Center East.
Low-interest disaster loans are available in the following independent cities and counties: Chesapeake City, Hampton City, Isle of Wright, James City, Newport News City, Norfolk City, Portsmouth City, Poquoson City, Southampton, Suffolk City, Virginia Beach, and York in
Virginia
; Camden, Currituck and Gates in
North Carolina
.
Working capital disaster loans up to $2 million are available at 4 percent for small businesses, and 2.625 percent for private nonprofit organizations 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, eligible entities need to apply by the deadline.
Survivors may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at
https://disasterloan.sba.gov/ela
.
Businesses may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing
disastercustomerservice@sba.gov
. Loan applications can also be downloaded 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, TX 76155.
The deadline to return economic injury applications is
Aug. 2, 2017
.