ATLANTA – The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small aquaculture businesses and most private nonprofit organizations in New York of the deadline to submit disaster loan applications for economic injury caused by severe thunderstorms and flooding on July 13-14, 2015. The deadline to apply for a working capital disaster loan is May 20, 2016."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 May 20 deadline," said Frank Skaggs, director of SBA Field Operations Center East in Atlanta.
Low-interest disaster loans are available in the counties of Cattaraugus, Chautauqua and Erie in New York; Erie and Warren in Pennsylvania.
Working capital disaster loans up to $2 million are available at 4 percent for small businesses, and 2.625 percent for private nonprofit organizations 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.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.
Applications and program information are available by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by sending an email to email@example.com. Loan applications can also 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.The deadline to return economic injury applications is May 20, 2016.