Disaster press release MI 15900

MI 15900 - Deadline Approaching in Michigan for SBA Working Capital Loans Due to 2018 Excessive Rain

ATLANTA - The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquacultu...


ATLANTA -

The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations that

Nov. 20

is the filing deadline for federal economic injury disaster loans in

Michigan

as a result of excessive rain occurring from Aug. 26 to Sept. 6

,

2018.

The loans are available in the following counties: Allegan, Barry, Kalamazoo, Kent, Lake, Mason, Mecosta, Montcalm, Muskegon, Newaygo, Oceana, Osceola, Ottawa and Van Buren in

Michigan.

Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster.  With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, or ranchers.

The loans are for working capital and can be up to $2 million with interest rates of 3.675 percent for eligible small businesses and 2.5 percent for nonprofit organizations, and terms up to 30 years.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at

Disasterloan.sba.gov

.

Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to

disastercustomerservice@sba.gov

.  Loan applications can be downloaded from the SBA’s website at

sba.gov

.  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 returned to SBA no later than

Nov. 20, 2019

.

Related programs: Disaster