Small Business Administration Reminds Business Owners of Deadline for Flood Disaster Loans

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By The Staff of The Chronicle

Tanya Garfield, director of disaster field operations for the US Small Business Administration, on Friday reminded business owners in Washington of the November 15 deadline to apply for a federal disaster loan from the SBA for economic damage caused by winter conditions and flooding from January 5 to 16. .

According to Garfield, small non-farm businesses, agricultural cooperatives and businesses engaged in aquaculture and most private non-profit organizations of any size can apply for up to $2 million in loans to help meet needs. in working capital caused by the January floods.

“Economic Injury Disaster Loans can be used to pay fixed debts, salaries, accounts payable and other bills that cannot be paid due to the impact of the disaster. Economic injury assistance is available whether or not the plaintiff has suffered property damage,” Garfield said.

Low interest disaster loans are available for businesses in Cowlitz, Grays Harbor, Lewis, Pacific, Pierce, Skamania, Thurston, Wahkiakum and Yakima counties.

Interest rates on loans are 2.83% for businesses and 1.875% for private non-profit organizations. Loans are granted for terms of up to 30 years. Loan amounts and terms are set by the Small Business Administration and are based on each applicant’s financial situation.

Applicants can apply online, receive additional assistance, and download applications at https://disasterloanassistance.sba.gov/.

For more information, applicants may call the Small Business Administration’s Customer Service Center at 800-659-2955 or email disastercustomerservice@sba.gov. For candidates with hearing or speech impairments, dial 7-1-1 to access the telec.communication relay services.

Completed applications should be mailed to US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas 76155.

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