Rep. Kaptur Announces SBA Disaster Loans Available for Lucas County
Local organizations may be eligible for help recovering from snow, freezing temperatures in first half of 2015
WASHINGTON, D.C.— The U.S. Small Business Administration (SBA) has announced the availability of federal disaster loans following excessive snow and extremely cold temperatures in Ohio and Michigan earlier in the year. Congresswoman Marcy Kaptur (OH-9) is urging eligible Lucas County businesses and organizations that were affected by extreme weather earlier this year to apply for this support.
“This is an important opportunity for our small businesses, farm co-ops, and non-profit organizations to recover from losses resulting from the unexpectedly harsh weather conditions earlier this year,” said Rep. Kaptur. “I strongly encourage local businesses and organizations that were impacted by those conditions toconsider applying for this SBA loan support.”
This announcement comes on the heels of a disaster declaration by USDA Secretary Tom Vilsack in Monroe County, Michigan. Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta, explained why Lucas County was included. “This county is eligible because it is contiguous to one or more primary counties in Michigan. 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.”
As a result of this declaration, SBA Economic Injury Disaster Loans are now available to Lucas County small businesses, small agricultural cooperatives, and most private non-profit organizations of any size that suffered financial losses as a direct result of excessive snow, freeze and extremely cold temperatures from January 1 through June 3, 2015.
Loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. They are not intended to replace lost sales or profits. Loan amounts can be up to $2 million with interest rates of 2.625 percent for private non-profit organizations and 4 percent for small businesses, with terms up to 30 years. Eligibility is determined based on the size of the applicant organization, type of activity, and its financial resources.
Completed loan applications must be returned to SBA no later than June 14, 2016. For more information or to apply, visit https://disasterloan.sba.gov/ela or contact SBA’s Customer Service Center by phone at 800-659-2955 or by email at disastercustomerservice@sba.gov. Those who are deaf or hard-of-hearing can call 800-877-8339. 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.
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