Small Businesses in Counties Adjacent to Macomb, Oakland and Wayne in Michigan are Eligible for Economic Injury Disaster Loans from SBA

ATLANTA, Oct. 16, 2014 /PRNewswire-USNewswire/ -- Low-interest economic injury disaster loans from the U.S. Small Business Administration (SBA) are available in the following counties: Genesee, Lapeer, Livingston, Macomb, Monroe, Oakland, Saint Clair, Washtenaw and Wayne in Michigan, to small businesses, small agricultural cooperatives, small aquaculture businesses and most private non-profit organizations affected by the severe storms and flooding Aug. 11-13, 2014.  Eligible entities do not have to suffer physical damage to qualify.

SBA encourages those affected to visit one of the Business Recovery Centers in Macomb, Oakland and Wayne counties for one-on-one assistance with SBA's Customer Service Representatives in completing their applications and answering questions about the disaster assistance program.

The Centers are located and open as indicated below, until further notice:

Oakland County
Oakland County Executive Office
2100 Pontiac Lake Road
Bldg. 41 W
Waterford, MI 48328
Hours:  Mon. – Fri. from 8:30 a.m. to 5:00 p.m.

Wayne County
Grand Valley State University
Downtown Detroit Center
163 Madison Street
Detroit, MI 48226
Hours:  Mon. – Fri. from 8:30 a.m. to 5:00 p.m.

Macomb County
Velocity Collaboration Center
6633 18 Mile Road
Sterling Heights, MI 48314
Hours:   Mon. – Fri., from 8:30 a.m. to 5:00 p.m.

The SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster.  Eligible entities may qualify for loans up to $2 million.  The rates on these loans are 4.00 percent for small businesses and 2.625 percent for non-profit organizations 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.

Additional information on the disaster loan program may be obtained by calling 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 www.sba.gov/disaster.

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: 15-027 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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