Connecticut Small Business Owners Still Have Time to Apply |
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By: U.S. Small Business Administration Posted: 2007-05-12 06:20:09 |
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The U.S. Small Business Administration (SBA) is reminding businesses that June 4 is the filing deadline for economic injury disaster loans available to small businesses located in the counties of Fairfield and Litchfield in the State of Connecticut.
"These counties are eligible because they are contiguous to one or more primary counties in the State of New York. SBA recognizes that disasters do not usually stop at the county or state lines. For that reason, counties adjacent to primary counties named in the declaration are included," according to Frank Skaggs, Director of SBA Field Operations Center East. "SBA's disaster declaration was issued as a result of a similar action taken by the Secretary of Agriculture to help farmers recover from damages and losses to crops caused by excessive rain, hail and high winds May 11, 2006 and continuing," said Skaggs. Under this declaration, SBA's Economic Injury Disaster Loan (EIDL) program is available to farm-related and nonfarm-related, small business concerns and small agricultural cooperatives that suffered economic injury as a direct result of this disaster. Farmers and ranchers are not eligible to apply to SBA. Eligible small businesses may qualify for loans up to $1.5 million. These loans are available at a 4 percent interest rate with loan terms up to 30 years. SBA determines eligibility for the program based on the size and type of business and its financial resources. Loan amounts and terms are set by SBA and are based upon each applicant's financial condition. Under this disaster declaration, SBA cannot provide loans to agricultural producers. Interested business owners should contact SBA's Customer Service Center by calling 1-800-659-2955 (1-800-877-8339 for the hearing-impaired), Monday through Friday from 8 a.m. until 9 p.m. EDT. Business loan applications can also be downloaded from the SBA's website at http://www.sba.gov/services/disasterassistance. 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 June 4, 2007. For more information about the SBA's Disaster Loan Programs, visit our website at http://www.sba.gov/services/disasterassistance. |
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