ATLANTA – The U.S. Small Business Administration (SBA) is reminding Mississippi small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations (PNPs) that Sept. 11, 2023 is the filing deadline for federal Economic Injury Disaster Loan applications due to excessive heat from June 1 through Oct. 6, 2022.
The declaration includes the primary counties of Alcorn, Benton, Calhoun, Chickasaw, Coahoma, Desoto, Holmes, Jefferson Davis, Lafayette, Lawrence, Lincoln, Marshall, Monroe, Pike, Pontotoc, Prentiss, Tate, Tippah, Tishomingo, Union, Winston, Yalobusha and Yazoo in Mississippi; and the adjacent counties of Amite, Attala, Bolivar, Carroll, Choctaw, Clay, Copiah, Covington, Franklin, Grenada, Hinds, Humphreys, Issaquena, Itawamba, Jefferson, Kemper, Lamar, Leake, Lee, Leflore, Lowndes, Madison, Marion, Neshoba, Noxubee, Oktibbeha, Panola, Quitman, Sharkey, Simpson, Sunflower, Tallahatchie, Tunica, Walthall, Warren and Webster in Mississippi; Colbert, Franklin, Lamar, Lauderdale and Marion in Alabama; Crittenden, Desha and Phillips in Arkansas; Fayette, Hardeman, Hardin, McNairy and Shelby in Tennessee; and the parishes of Tangipahoa and Washington in Louisiana.
Loan amounts can be up to $2 million with interest rates of 2.935% for small businesses and 1.875% 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.
To be considered for this assistance, entities need to apply by the deadline. Applicants may apply for declaration #17756 online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoanAssistance.sba.gov.
Disaster loan information and application forms can also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services) or sending an email to DisasterCustomerService@sba.gov. Loan applications can also be downloaded from 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 submit economic injury applications is Sept. 11, 2023.
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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. 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.