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The U.S. Small Business Administration (SBA) announced the availability of low-interest Economic Injury Disaster Loans to small businesses economically impacted by the increased cost of electricity as a result of the avalanche that destroyed power lines and towers in Juneau.
The declaration covers the City and Borough of Juneau, Haines Borough, and Chatham REAA.
The loans are offered from the federal government and will be offered in amounts up to $1.5 million at an interest rate of 4 percent with terms up to 30 years. The loan can be applied toward paying fixed debts, payroll, accounts payable, and other bills that can't be paid because of the disaster's impact.
SBA Representatives from Washington, D.C., will be in Juneau to issue loan applications, answer questions about the program, explain the application process, and help individuals complete their application.
Juneau Empire Building
3100 Channel Drive, Suite 315
Open Tuesday, May 20 through Thursday, May 29
Tuesday through Friday, 8 am to noon
Closed Memorial Day, Monday, May 26
Contact information for the SBA: by phone, (800) 659-2955 or TTY (800) 877-8339, or on the web, http://www.sba.gov/services/disasterassistance
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