WASHINGTON
– Low-interest Economic Injury Disaster Loans (EIDLs) from the U.S. Small Business Administration (SBA) are available to Rhode Island small businesses, small agricultural cooperatives, small aquaculture businesses and private nonprofit organizations affected by the Gas Outage Due to Extreme Cold Temperatures on Jan. 21-29, 2019.
SBA Administrator Linda McMahon made the loans available in response to a letter from Gov. Gina M. Raimondo on Feb. 7, requesting a disaster declaration by the SBA. The declaration covers Newport County and the adjacent counties of Bristol, Kent and Washington in
Rhode Island
and Bristol in
Massachusetts
.
Rhode Island
and Bristol in
Massachusetts
.
“The SBA is strongly committed to providing the people of
Rhode Island
with the most effective and customer-focused response possible to assist small businesses with federal Economic Injury Disaster Loans,” said McMahon. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”
Rhode Island
with the most effective and customer-focused response possible to assist small businesses with federal Economic Injury Disaster Loans,” said McMahon. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”
SBA’s Customer Service Representatives will be available at the Business Recovery Center to answer questions about the disaster loan program and help individuals complete their applications.
The Center is located in the following community and is open as indicated:
Newport County
Newport Harbor and Marina
49 America’s Cup Avenue
Newport, RI 02840
Opens: Tuesday, Feb. 19 at 11 a.m.
Hours: Monday through Friday, 9 a.m. – 6 p.m.
Saturdays, 10 a.m. to 2 p.m.
Closed: Sundays
“The SBA can help affected small businesses and nonprofit organizations overcome their economic losses by offering working capital loans, but the help cannot start until they submit an SBA disaster loan application to us,” said SBA’s Rhode Island District Director Mark S. Hayward.
Eligible entities may qualify for loans up to $2 million. The SBA offers economic injury loans to help meet working capital needs caused by the disaster. The rates on these loans are 3.74 percent for small businesses and 2.75 percent for nonprofit organizations with terms up to 30 years. Eligibility for these working capital loans are based on the size and type of business and its financial resources. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and 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 SBA’s secure website at
DisasterLoan.sba.gov.
Applications and program information are available 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
. Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
disastercustomerservice@sba.gov
Loan applications can also be downloaded at
www.sba.gov
. Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for economic injury is
.
Nov. 15, 2019
.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit
www.sba.gov
.
WASHINGTON
– Low-interest Economic Injury Disaster Loans (EIDLs) from the U.S. Small Business Administration (SBA) are available to Rhode Island small businesses, small agricultural cooperatives, small aquaculture businesses and private nonprofit organizations affected by the Gas Outage Due to Extreme Cold Temperatures on Jan. 21-29, 2019.
WASHINGTON
SBA Administrator Linda McMahon made the loans available in response to a letter from Gov. Gina M. Raimondo on Feb. 7, requesting a disaster declaration by the SBA. The declaration covers Newport County and the adjacent counties of Bristol, Kent and Washington in
Rhode Island
and Bristol in
Massachusetts
.
Rhode Island
and Bristol in
Massachusetts
.
Rhode Island
Massachusetts
“The SBA is strongly committed to providing the people of
Rhode Island
with the most effective and customer-focused response possible to assist small businesses with federal Economic Injury Disaster Loans,” said McMahon. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”
Rhode Island
with the most effective and customer-focused response possible to assist small businesses with federal Economic Injury Disaster Loans,” said McMahon. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”
Rhode Island
SBA’s Customer Service Representatives will be available at the Business Recovery Center to answer questions about the disaster loan program and help individuals complete their applications.
The Center is located in the following community and is open as indicated:
Newport County
Newport County
Newport Harbor and Marina
49 America’s Cup Avenue
Newport, RI 02840
Opens: Tuesday, Feb. 19 at 11 a.m.
Hours: Monday through Friday, 9 a.m. – 6 p.m.
Saturdays, 10 a.m. to 2 p.m.
Closed: Sundays
“The SBA can help affected small businesses and nonprofit organizations overcome their economic losses by offering working capital loans, but the help cannot start until they submit an SBA disaster loan application to us,” said SBA’s Rhode Island District Director Mark S. Hayward.
Eligible entities may qualify for loans up to $2 million. The SBA offers economic injury loans to help meet working capital needs caused by the disaster. The rates on these loans are 3.74 percent for small businesses and 2.75 percent for nonprofit organizations with terms up to 30 years. Eligibility for these working capital loans are based on the size and type of business and its financial resources. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and 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 SBA’s secure website at
DisasterLoan.sba.gov.
Applications and program information are available 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
. Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
disastercustomerservice@sba.gov
Loan applications can also be downloaded at
www.sba.gov
. Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for economic injury is
.
Nov. 15, 2019
.
Nov. 15, 2019
About the U.S. Small Business Administration
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit
www.sba.gov
.