Economic injury assistance available through SBA

Economic injury assistance available through SBA

Posted: Monday, February 21, 2011 9:12 pm

The U.S. Small Business Administration is reminding 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 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 Obion County, as well as the Tennessee counties of 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, Robertson, Rutherford, Shelby, Stewart, Tipton, Wayne, Weakley and Williamson; the Arkansas counties of Crittenden and Mississippi; and the Missouri counties of New Madrid and Pemiscot.
For more information on the SBA’s Disaster Loan Program, to obtain application forms or to apply online, visit www.sba.gov; send an e-mail to disastercustomerservice@sba.gov; or call the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Friday from 7 a.m. to 5 p.m.

Published in The Messenger 2.21.11

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