SBA's Deadline is September 11 for Economic Injury Disaster Loan Applications in Massachusetts

ATLANTA, Aug. 13, 2013 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration is reminding businesses in Massachusetts that working capital loans are still available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations affected by the natural gas explosion in Springfield on Nov. 23. 

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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 Sept. 11 deadline," said Frank Skaggs, director of SBA Field Operations Center East in Atlanta.

Economic Injury Disaster Loans (EIDLs) up to $2 million are available at 3 percent for private non-profit 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, eligible entities need to apply by the deadline.

The disaster declaration covers the counties of Berkshire, Hampden, Hampshire and Worcester in Massachusetts; and Hartford, Litchfield and Tolland in Connecticut.

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

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 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.

The deadline for economic injury applications is September 11, 2013.

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

Release Number: 13-678, MA 13418

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

SOURCE U.S. Small Business Administration

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