SBA disaster loans available in New Hampshire
February 12. 2014 10:09PM
Federal economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations in Carroll and Coos counties as a result of flooding, excessive heat and rain, lightning and high winds between April 1 and Oct. 31, the U.S. Small Business Administration said.
The Granite State communities are included as part the disaster declaration by the Secretary of Agriculture for the Maine counties of Androscoggin, Cumberland, Franklin, Kennebec, Lincoln, Oxford, Sagadahoc and York.
“These (New Hampshire) counties are eligible because they are contiguous to one or more primary counties in Maine. The Small Business Administration recognizes that disasters do not usually stop at county or state lines,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.
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 the disaster. With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, or ranchers.
The loan amount can be up to $2 million with interest rates of 2.875 percent for private nonprofit organizations of all sizes and 4 percent for small businesses, with terms up to 30 years.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.
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 e-mail to email@example.com.
Completed loan applications must be returned to SBA no later than October 6, 2014.