ATLANTA - The U.S. Small Business Administration (SBA) is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations that June 6 is the filing deadline for federal SBA Economic Injury Disaster Loans (EIDL) in New York due to remnants of Hurricane Ida on Sept. 1-3, 2021.
Small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and private nonprofit organizations located in the following counties may apply: Bronx, Columbia, Dutchess, Kings, Nassau, Orange, Queens, New York, Putnam, Richmond, Rockland, Suffolk, Sullivan, Ulster and Westchester in New York; Fairfield and Litchfield in Connecticut; Berkshire in Massachusetts; Bergen, Passaic and Sussex in New Jersey, and Pike in Pennsylvania.
The loan amount can be up to $2 million with interest rates of 2.855 percent for small businesses and 2 percent for private nonprofit organizations, with terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. 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 the SBA’s secure website at DisasterLoanAssistance.sba.gov/ela/s/ and should apply under SBA declaration # 17148.
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 by sending an email to DisasterCustomerService@sba.gov. Loan applications can be downloaded from the SBA’s website at 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 June 6, 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.