SBA loan deadline is Feb. 4
Posted: Monday, January 10, 2011 6:02 pm
The U.S. Small Business Administration has announced a Feb. 4 deadline to submit loan applications for eligible private non-profit organizations.
The Economic Injury Disaster Loans are being made available because of severe storms, flooding, straight-line winds and tornadoes that occurred from April 30-May 18, 2010.
Private non-profit organizations in 49 Tennessee counties, including Obion County, are eligible to apply for the loans.
The SBA loans are being offered to help meet working capital needs, such as ongoing operating expenses for eligible non-critical, private, non-profit organizations.
Loan assistance is available regardless of whether the organization suffered any physical property damage, according to the SBA. Loan amounts can be up to $2 million at a 3 percent interest rate, with terms not exceeding 30 years.
The SBA sets loan amounts and terms based on each applicant’s financial condition.
For more information about the disaster loans or for an application, contact the SBA’s customer service center at 1-800-659-2955 from 8 a.m.-6 p.m. Mondays through Fridays. Applications can also be downloaded from email@example.com.