Deadline approaching in Georgia for U.S. Small Business Administration working capital loans

Downtown Albany sustained substantial damage from Hurricane Michael. The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations that Aug. 12 is the filing deadline for federal economic injury disaster loans in Georgia as a result of the storm.

ATLANTA — The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations that Aug. 12 is the filing deadline for federal economic injury disaster loans in Georgia as a result of Hurricane Michael.

The hurricane, which hit Georgia in October of last year, prompted a disaster declaration in Appling, Atkinson, Bacon, Baker, Baldwin, Ben Hill, Berrien, Bibb, Bleckley, Brantley, Brooks, Bryan, Bulloch, Burke, Calhoun, Camden, Candler, Charlton, Chattahoochee, Clay, Clinch, Coffee, Colquitt, Cook, Crawford, Crisp, Decatur, Dodge, Dooly, Dougherty, Early, Echols, Effingham, Emanuel, Evans, Glascock, Glynn, Grady, Greene, Hancock, Houston, Irwin, Jeff Davis, Jefferson, Jenkins, Johnson, Jones, Lanier, Laurens, Lee, Liberty, Long, Lowndes, Macon, Marion, McDuffie, McIntosh, Miller, Mitchell, Monroe, Montgomery, Peach, Pierce, Pulaski, Putnam, Quitman, Randolph, Richmond, Schley, Screven, Seminole, Stewart, Sumter, Talbot, Taliaferro, Tattnall, Taylor, Telfair, Terrell, Thomas, Tift, Toombs, Treutlen, Turner, Twiggs, Upson, Ware, Warren, Washington, Wayne, Webster, Wheeler, Wilcox, Wilkinson and Worth counties in Georgia.

Under this 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 the storm. With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers or ranchers.

Officials with SBA said the loans are for working capital and can be up to $2 million with interest rates of 3.675 percent for eligible small businesses and 2.5 percent for nonprofit organizations and terms up to 30 years.

Applicants may apply online using the electronic loan application via SBA’s website at www.disasterloan.sba.gov. Disaster loan information and application forms may also be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@sba.gov.

Loan applications can be downloaded from SBA’s website at www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas, 76155.

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