The U.S. Small Business Administration is reminding businesses in Western Ohio that working capital loans are still available to small businesses, small agricultural cooperatives and most private non-profit organizations that were affected by the toxic algae bloom in Grand Lake St. Marys that began on June 21, 2010.
"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 July 19, 2011 deadline," said Frank Skaggs, director of SBA Field Operations Center East.
Economic Injury Disaster Loans (EIDLs) up to $2 million are available at 4 percent for small businesses and 3 percent for private non-profit organizations of all sizes, 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, disaster victims need to apply by the deadline.
These EIDLs are available to businesses and non-profit organizations in Allen, Auglaize, Darke, Hardin, Logan, Mercer, Shelby and Van Wert counties in Ohio; and the counties of Adams and Jay in Indiana.
To obtain disaster loan information and application forms, call the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for people with speech or hearing disabilities) Monday through Friday from 8 a.m. to 6 p.m., Saturday 9 a.m. to 5:30 p.m. ET, or send an e-mail to disastercustomerservice@sba.gov. Loan application forms can also be downloaded from www.sba.gov.Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
Interested business owners and organizations may visit the SBA's website at https://disasterloan.sba.gov/ela/ to apply for disaster loans.
The deadline for economic injury applications is July 19, 2011.
Click Here to See a Disaster Loan Fact Sheet
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