SBA issues disaster loan deadline reminder

SBA issues disaster loan deadline reminder

The U.S. Small Business Administration reminds small businesses, small agricultural cooperatives and most private non-profit organizations of all sizes in Tennessee of the March 7 deadline to apply for economic injury disaster loan assistance. 

The loans are available due to the excessive rainfall and flooding that began on April 30, 2010.

Under this declaration, SBA Economic Injury Disaster Loans are available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster.  These loans can be up to $2 million, with terms up to 30 years. 

Interest rates are 4 percent for businesses and 3 percent for non-profit organizations. 

Agricultural producers, farmers and ranchers are not eligible to apply to SBA. 

The disaster loans are available in the following counties: Cheatham, Carroll, Chester, Crockett, Davidson, Decatur, Dickson, Dyer, Fayette, Gibson, Giles, Hardeman, Hardin, Haywood, Henderson, Hickman, Houston, Lake, Lauderdale, Lawrence, Lincoln, Madison, Marshall, Maury, McNairy, Montgomery, Obion, Robertson, Rutherford, Shelby, Stewart, Tipton, Wayne, Weakley and Williamson in Tennessee; Crittenden and Mississippi in Arkansas; New Madrid and Pemiscot in Missouri. For more information on the SBA’s Disaster Loan Program, to obtain application forms or to apply online visit www.sba.gov, send an email to disastercustomerservice@sba.gov or call the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the hearing-impaired) Monday through Friday from 8 a.m. to 6 p.m. ET. Completed loan applications should be returned to the SBA no later than March 7, 2011.

wcp 2/08/11

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