Deadline Approaching For Loan Assistance From 2017 Freeze
July 29, 2018
Federal Economic Injury Disaster Loans are being made available to small businesses in Livingston County and surrounding areas.
The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations that August 21st is the filing deadline for federal economic injury disaster loans in Michigan as a result of a frost and freeze cycle from May 7th through the 9th of 2017.
The disaster declaration includes Livingston, as well as Genesee, Ingham, Oakland, Shiawassee and Washtenaw counties. Under the declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. The loans are for working capital and can be up to $2 million with interest rates of 3.215% for eligible small businesses and 2.5% for nonprofit organizations, and terms up to 30 years.
Applicants can apply online at Disasterloan.sba.gov. Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to firstname.lastname@example.org. Loan applications can be downloaded from the SBA’s website using the link below. 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 Aug. 21, 2018. (JK)