ATLANTA — The U.S. Small Business Administration is offering economic injury disaster loans to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations located in New Hampshire as a result of excessive moisture July 15-Dec. 2, 2018.
The loans are available in Belknap, Carroll, Cheshire, Grafton, Hillsborough, Merrimack, Rockingham, Strafford and Sullivan counties.
“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to eligible entities, affected by the same disaster,” said Kem Fleming, director of SBA’s Field Operations Center East.
The SBA’s Economic Injury Disaster Loan program is available to eligible farm-related and non-farm-related entities that suffered financial losses as a direct result of this disaster. With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers and ranchers.
The loan amount can be up to $2 million, with interest rates of 2.5% for private nonprofit organizations of all sizes, and 3.61% for small businesses, with terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.
Applicants may apply online by visiting DisasterLoan.sba.gov.
Disaster loan information and application forms may also be obtained by calling 800-659-2955, or 800-877-8339 for the deaf and hard-of-hearing, or by sending an email to firstname.lastname@example.org. Loan applications are available by visiting Disasterloan.sba.gov.
Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
Submit completed loan applications no later than Nov. 12.
To learn more about the U.S. Small Business Administration, visit www.sba.gov.