Deadline to Apply for Economic Injury Disaster Loans in Tennessee for Early Spring Severe Storms and Flooding is December 23

ATLANTA, Nov. 23, 2011 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration is reminding businesses in Tennessee that working capital loans are still available to small businesses, small agricultural cooperatives and most private non-profit organizations that were affected by the severe storms and flooding that occurred on Feb. 28 through Mar. 9, 2011.

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"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 Dec. 23, 2011 deadline," said Frank Skaggs, director of SBA Field Operations Center East.

Economic Injury Disaster Loans (EIDLs) up to $2 million are available at 4 percent for small businesses and 3 percent for private non-profit organizations of all sizes, 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, disaster survivors need to apply by the deadline. EIDL assistance is available regardless of whether the business suffered any physical damage.

These EIDLs are available to businesses and non-profit organizations in the following counties: Anderson, Blount, Grainger, Jefferson, Knox, Loudon, Roane, Sevier and Union in Tennessee.

To obtain disaster loan information and application forms, call the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for deaf and hard-of hearing) or send an email to [email protected]. Loan application forms can also be downloaded from www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

Those affected by the disaster may also apply for disaster loans electronically from the SBA's website at https://disasterloan.sba.gov/ela/.

The deadline to return economic injury applications is December 23, 2011.

For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov.

Contact:  Kathy Cook
Phone: 404-331-0333

SOURCE U.S. Small Business Administration

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