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 April 7 is the filing deadline for federal economic injury disaster loans in Illinois as a result of excessive moisture, flooding and flash flooding that began on Sept. 1, 2018.
The loans are available to the entire state of Illinois and the following counties: Clinton, Des Moines, Dubuque, Jackson, Lee, Louisa, Muscatine and Scott in Iowa; and Cape Girardeau, Clark, Jefferson, Lewis, Lincoln, Marion, Mississippi, Perry, Pike, Ralls, Saint Charles, Saint Louis, Saint Louis City, Sainte Genevieve and Scott in Missouri.
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 April 7, 2020.
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