SBA Deadline to Apply for Economic Injury Disaster Loans in Michigan is June 25

ATLANTA, May 26, 2015 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small aquaculture businesses and most private nonprofit organizations in Michigan of the deadline to submit disaster loan applications for economic injury caused by severe storms and flooding on August 11-13, 2014. The deadline to apply for a working capital disaster loan is June 25, 2015.

"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 June 25 deadline," said Frank Skaggs, director of SBA Field Operations Center East. 

Small businesses and most private non-profit organizations in the following counties are eligible to apply only for SBA Economic Injury Disaster Loans in Genesee, Lapeer, Livingston, Macomb, Monroe, Oakland, Saint Clair, Washtenaw and Wayne in Michigan.

Working capital disaster loans up to $2 million are available at 4 percent for small businesses, and 2.625 percent for private nonprofit organizations 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, eligible entities need to apply by the deadline.

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/disaster. 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 June 25, 2015.

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

Release Number: 15-250, MI 14133

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

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SOURCE U.S. Small Business Administration

Related Links

http://www.sba.gov

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