Update to Earlier Release: Deadline Approaching in New York for SBA Working Capital Loans

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Dec 11, 2014, 04:00 ET

ATLANTA, Dec. 11, 2014 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations that Jan. 14 is the filing deadline for federal economic injury disaster loans in New York as a result of a freeze from Dec. 22, 2013 through April 17, 2014.

The loans are available in the following counties: Albany, Bronx, Clinton, Columbia, Delaware, Dutchess, Essex, Franklin, Greene, Herkimer, Jefferson, Lewis, Oneida, Orange, Oswego, Putnam, Rensselaer, Rockland, Saint Lawrence, Schoharie, Sullivan, Ulster and Westchester counties in New York.

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 loans are for working capital and can be up to $2 million with interest rates of 4 percent for eligible small businesses and 2.625 percent for non-profit organizations, and terms up to 30 years.

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 January 14, 2015.

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

Release Number: 15-089, NY 13996

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

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SOURCE U.S. Small Business Administration