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Washington D.C., April 18, 2005 - Congressman Mike Bilirakis today announced that the deadline for small businesses to apply for the U.S. Small Business Administration (SBA) Economic Injury Disaster Loans (EIDL) is approaching. They are available to small businesses that were economically impacted from Hurricanes Charley, Francis, Ivan and Jeanne.
For Hurricane Charley the deadline is May 13. The deadline for Hurricane Frances is June 6. Hurricane Ivan victims have until June 16 and the Hurricane Jeanne deadline is June 27. Victims with economic losses from more than one storm are only required to complete one loan application.
Small businesses may apply for a loan of up to $l.5 million if they have suffered substantial economic injury in the aftermath of last year’s historic hurricane season. 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. These loans are not intended to replace lost sales or profits. The interest rate on these loans is 2.9 percent, with a maximum term of 30 years. The SBA determines the amount of economic injury, the term of each loan and the payment amount, based on the financial circumstances of each borrower.
Small businesses interested in applying for assistance can visit SBA representatives at any of the remaining federal/state recovery centers, SBA Disaster Outreach Centers (DOCs) or by calling the SBA at 1-800-359-2227. The Telecommunications Device for the Deaf (TDD) and speech impaired number is (404) 347-3751. Business loan applications can also be downloaded from the SBA website at www.sba.gov/disaster Completed applications from the Peninsula should be mailed to: U. S. Small Business Administration, P.O. Box 621117, Orlando, Florida 32862-1117. Applications from the Panhandle should be mailed to: U. S. Small Business Administration, P.O. Box 9549, Pensacola, FL 32513-9549.
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