ATLANTA – The U.S. Small Business Administration is reminding businesses in Alabama that April 22 is the application deadline for Economic Injury Disaster Loans (EIDLs) for small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and private nonprofit organizations affected by Tropical Storm Claudette on June 19, 2021.
The low-interest disaster loans are available in the counties of Baldwin, Bibb, Conecuh, Covington, Escambia, Fayette, Greene, Hale, Jefferson, Monroe, Pickens, Tuscaloosa and Walker in Alabama; and in Escambia, Okaloosa and Santa Rosa in Florida.
“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 April 22 deadline,” said Kem Fleming, director of SBA Field Operations Center East.
Working capital loans up to $2 million are available at 2.88 percent for small businesses and 2 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.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoanAssistance.sba.gov/ela/s and should apply under SBA declaration # 17051.
Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (for people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services), or emailing DisasterCustomerService@sba.gov. Loan applications may be downloaded at sba.gov/disaster 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 deadline to return economic injury loan applications is April 22, 2022.
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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 and grow their businesses. It delivers services to people through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit sba.gov.