WASHINGTON – Today, SBA Administrator Isabel Casillas Guzman announced that Georgia small businesses affected by the water main breaks that occurred from May 31 through June 6, 2024 may apply for low-interest, long-term Economic Injury Disaster Loans (EIDLs) from the U.S. Small Business Administration (SBA).
Administrator Guzman made the loans available in response to a letter from Georgia Governor Brian P. Kemp’s Authorized Representative, Valarie Grooms on July 9, 2024, requesting a disaster declaration by the SBA. The declaration covers Fulton County and the adjacent counties of Carroll, Cherokee, Clayton, Cobb, Coweta, Dekalb, Douglas, Fayette, Forsyth and Gwinnett in Georgia.
“SBA stands ready to help Georgia’s small business owners impacted by the water main breaks,” said Administrator Guzman. “With today’s announcement, we stand committed to providing assistance in the form of federal economic injury disaster loans to help businesses and communities get the financial support they need to recover following this event.”
“Businesses and most private nonprofit organizations may borrow up to $2 million for working capital needs arising due to the disaster,” said SBA’s Georgia District Director Terri Denison.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.
Interest rates are 4% for small businesses and 3.25% for private nonprofit organizations with terms up to 30 years. The SBA sets loan amounts and terms based on each applicant’s financial condition. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement.
To apply online and receive additional disaster assistance information visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
The filing deadline to return economic injury applications is April 10, 2025.
###
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.