SBA Disaster Loan Deadline in Maryland is August 11; Small Business Owners Still Have Time To Apply

ATLANTA, July 9, 2014 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration is reminding small businesses that Aug. 11 is the filing deadline for federal economic injury disaster loans that are available in the counties of Caroline, Dorchester, Kent, Queen Anne's, Wicomico and Worcester in Maryland as a result of excessive rainfall between May 1, 2013 and Sept. 15, 2013. 

"These counties are eligible because they are contiguous to one or more primary counties in Delaware.  The Small Business Administration recognizes that disasters do not usually stop at county or state lines. For that reason, counties adjacent to primary counties named in the declaration are included," said Frank Skaggs, director of SBA's Field Operations Center East in Atlanta.

Under this declaration, the SBA's Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster.  With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, or ranchers. 

The loan amount can be up to $2 million with interest rates of 2.875 percent for private
non-profit organizations of and 4 percent for small businesses, with terms up to 30 years.  The SBA determines eligibility based on the size of the applicant, type of activity 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.

Disaster loan information and application forms may also be obtained by calling the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to [email protected].  Loan applications can 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.

Completed loan applications must be returned to SBA no later than August 11, 2014.

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

Contact: Michael Lampton

Release Number: 14-302, DE 13851
Email: [email protected]
Phone: (404) 331-0333

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SOURCE U.S. Small Business Administration

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