ATLANTA - The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations that Feb. 25 is the filing deadline for federal economic injury disaster loans in the counties of Logan, McCreary, Simpson, Todd and Whitley in Kentucky as a result of rain and flooding from May 1, 2018 through Feb. 25, 2019.
“These counties are eligible because they are contiguous to one or more primary counties in Tennessee. 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,” director of SBA’s Field Operations Center East in Atlanta, Kem Fleming.
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 3.61 percent for eligible small businesses and 2.5 percent for nonprofit organizations, and terms up to 30 years.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoan.sba.gov. 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@example.com.
Loan applications can be downloaded from the SBA’s website at sba.gov. 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 Feb. 25, 2020.