ATLANTA – The U.S. Small Business Administration (SBA) (SBA) is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations that Nov. 6 is the filing deadline for federal working capital loans in New Hampshire due to a drought that occurred from June 1 through Nov. 30, 2022.
Low-interest disaster loans are available in the primary counties of Belknap, Grafton and Merrimack; and the adjacent countries of Carroll, Coos, Hillsborough, Rockingham, Strafford and Sullivan in New Hampshire; and Caledonia, Essex, Orange and Windsor counties in Vermont.
Under this declaration, the SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. Apart from aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, and ranchers. Nurseries are eligible to apply for economic injury disaster loans for losses caused by drought conditions.
The loan amount can be up to $2 million with interest rates of 2.935 percent for small businesses and
1.875 percent for private nonprofit organizations, with terms up to 30 years. 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 SBA’s secure website at https://DisasterLoanAssistance.sba.gov/ela/s/ and should apply under SBA declaration # 17808.
To obtain disaster loan information and application forms call 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 send 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.
Submit completed loan applications to SBA no later than Nov. 6, 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, 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.