Economic Injury Disaster Loans Available to Small Businesses in Florida Due to the Failure of Commercial Fishery

WASHINGTON, Nov. 1, 2013 /PRNewswire-USNewswire/ -- Low-interest economic injury disaster loans are available to Florida small businesses, small agricultural cooperatives, small aquaculture businesses and most private non-profit organizations affected by a failure in the state's commercial oyster fishery industry beginning January 2012.  

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Acting SBA Administrator Jeanne Hulit made the loans available following a request from Florida
Gov. Rick Scott on Oct. 23, 2013 for a disaster declaration by the SBA.  The declaration covers Franklin County and the neighboring counties of Gulf, Liberty and Wakulla in Florida.

"The Small Business Administration is strongly committed to providing the most effective and customer-focused response possible to help small businesses and non-profits in Florida with their federal disaster loans," said Hulit.  "Getting our businesses and communities up and running after a disaster is our highest priority at SBA."

"The SBA can help affected small businesses and non-profit organizations overcome their economic losses by offering working capital loans," said Wilfredo Gonzalez, SBA's North Florida district director. "Once we receive the disaster loan application, we can help the affected businesses and organizations take those first steps toward financial recovery."  

Eligible entities may qualify for loans up to $2 million.  The SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster.  The rates on these loans are 3 percent for non-profit organizations and 4 percent for small businesses with terms up to 30 years.  The SBA determines eligibility for the loans based on the size and type of business and its financial resources. 

Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure website at https://disasterloan.sba.gov/ela.

Applications and program information are available by calling the SBA's Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by sending an email to [email protected]. Loan applications can also be downloaded from the SBA's website at 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.

The deadline to return economic injury applications is July 31, 2014.

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

Contact: Michael Lampton
Email: [email protected] 
Phone: (404) 331-0333

Release Number: 14-035 FL 13804

SOURCE U.S. Small Business Administration

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