SBA Deadline for Economic Injury Disaster Loans In Tennessee is February 1

ATLANTA, Dec. 28, 2011 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration is reminding businesses in Tennessee that working capital loans are still available to small businesses economically impacted by the severe storms, tornadoes, high winds and flooding that occurred from April 25 - 28, 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 Feb. 1, 2012 deadline," said Frank Skaggs, director of SBA Field Operations Center East.

Economic Injury Disaster Loans (EIDLs) up to $2 million are available at 3 percent for private nonprofit organizations of all sizes and 4 percent for small businesses, 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 victims need to apply by the deadline.

These EIDLs are available to businesses and nonprofits in Anderson, Benton, Bledsoe, Blount, Bradley, Carroll, Carter, Cocke, Cheatham, Chester, Crockett, Cumberland, Decatur, Dickson, Dyer, Gibson, Grainger,  Greene, Hamblen, Hamilton, Hardeman, Hardin, Hawkins, Haywood, Henderson, Henry, Houston, Jefferson, Johnson, Knox, Lauderdale, Loudon, Madison, Marion, McMinn, McNairy, Meigs, Monroe, Montgomery, Polk, Rhea, Roane, Robertson, Sequatchie, Sevier, Stewart, Sullivan, Unicoi, Union, Van Buren, Washington, Wayne and Weakley in the State of TN; contiguous Lauderdale County in the State of AL; contiguous counties of Catoosa, Dade, Murray, Walker and Whitfield in the State of GA; contiguous counties of Calloway, Christian, Graves and Todd in the Commonwealth of KY; contiguous counties of Alcorn and Tishomingo in the State of MS; contiguous counties of Ashe, Avery, Cherokee, Graham, Haywood, Madison and Watauga in the State of NC; and contiguous counties of Grayson and Washington in the Commonwealth of VA.

To obtain disaster loan information and application forms, call the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or send an e-mail 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.

Interested business owners and organizations may visit the SBA's secure website at https://disasterloan.sba.gov/ela/ to apply for disaster loans.

The deadline for economic injury applications is February 1, 2012.

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

Contact:  Michael Lampton
Phone:  404-331-0333

SOURCE U.S. Small Business Administration

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