Disaster assistance available for state’s small businesses
Small, non-farm businesses in the South Dakota counties of Beadle, Brookings, Clark, Hamlin, Kingsbury, Lake, Miner and Sanborn are now eligible to apply for low-interest federal disaster loans from the U. S. Small Business Administration (SBA).By: News release, Small Business Administration
Small, non-farm businesses in the South Dakota counties of Beadle, Brookings, Clark, Hamlin, Kingsbury, Lake, Miner and Sanborn are now eligible to apply for low-interest federal disaster loans from the U. S. Small Business Administration (SBA).
The loans offset economic losses because of reduced revenues caused by the drought that occurred from July 24 through Sept. 17. SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster.
Small, non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private, nonprofit organizations of any size may qualify for Economic Injury Disaster Loans (EIDLs) of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s website at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling SBA toll-free at (800) 659-2955, emailing disastercustomerservice@sba.gov, or visiting SBA’s Web site at www.sba.gov/services/disasterassistance. Individuals who are deaf or hard-of-hearing may call (800) 877 • 8339.
The deadline to apply for these loans is May 20, 2013.
Tags: news, updates, business, state, loans, disaster, drought
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