SBA disaster loans available - WALB.com, Albany News, Weather, Sports

SBA disaster loans available

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Atlanta, Ga - The U.S. Small Business Administration (SBA) announced that federal disaster loans are available to small, non-farm, agriculture-dependent businesses in various counties in Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee.

 

These counties were economically impacted due to losses caused by Hurricane Ivan that occurred September 15 - 17, 2004, according to SBA Disaster Area Director Michael C. Allen.

 

Small businesses in these Georgia counties are eligible:

Atkinson

Bacon

Baker

Banks

Barrow

Bartow

Ben Hill

Berrien

Brooks

Calhoun

Catoosa

Chattahoochee

Cherokee

Clarice

Clay

Cobb

Coffee

Colquitt

Crisp

Dade

Dawson

Decatur

Dooly

Dougherty

Early

Elbert

Fannin

Floyd

Franklin

Gilmer

Gordon

Grady

Greene

Habersham

Hall

Hart

Irwin

Jackson

Jeff Davis

Lee

Lumpkin

Macon

Madison

Marion

Miller

Mitchell

Morgan

Murray

Oconee

Oglethorpe

Paulding

Pickens

Polk

Quitman

Rabun

Randolph

Stephens

Schley

Seminole

Stewart

Sumter

Taylor

Telfair

Terrell

Thomas

Towns

Union

Walker

Walton

Ware

Webster

White

Whitfield  

Worth

  

"SBA can help these small businesses overcome their economic injuries by offering these working capital loans, but the help can't start until they apply," Allen added, Under this declaration, SBA's Economic Injury Disaster Loan (EIDL) program is available to small, non-farm, agriculture-dependent businesses and small agricultural cooperatives that suffered economic injury as a direct result of the weather's effect on agricultural producers.

 

According to Allen, farm implement dealers, seed and feed, spraying, and irrigation businesses are examples of businesses most typically in need of assistance from the SBA. Businesses primarily engaged in farming or ranching are ineligible for SBA disaster assistance, Economic Injury Disaster Loans (EIDLs) provide working capital to small businesses so they can continue to pay bills and meet normal operating expenses. Maximum loans to a business of up to $1.5 million are available at 2.9 percent interest with loan terms of up to 30 years.

 

SBA determines eligibility for the program based on the size and type of business and its financial resources. Under this disaster declaration, SBA does not provide loans to agricultural producers, and cannot provide loans to non-agricultural dependent businesses-

 

Interested business owners should contact:

SBA Disaster Area 2 Office
One Baltimore Place, Suite 300
Atlanta, Georgia 30308

 

Or call 1-800-359-2227 for more information or to obtain an application, Completed loan applications must be returned to SBA no later than October 11,2005.

 

For more information visit SBA 's website at
www.sba.gov/disaster

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