Small businesses and organizations affected by last year’s wet spring have until May 10 to apply
 
Congresswoman Chellie Pingree encourages small businesses and organizations in York County affected by the period of excessively wet weather beginning on June 1, 2009, to apply for disaster loans from the Small Business Administration (SBA).  Groups have until May 10 to file the application for loans, offering up to $2 million with a 4 percent interest rate.
 
“On top of a tumbling economy last year, many businesses were also hit hard by an extremely wet spring.  It couldn’t have come at a worse time.” said Pingree. “I hope businesses take advantage of this program to get the financing they need to recover from that difficult period.”
 
The entire state of New Hampshire was declared a disaster area after weeks of wet weather last spring. Contiguous counties—including Oxford and York counties in Maine—were also eligible for disaster loans through SBA.
 
Under this declaration, the SBA’s Economic Injury Disaster Loan Program is available to eligible businesses and organizations that suffered financial losses as a direct result of the disaster. The working capital loans may be used to pay fixed debts, payroll, accounts payable, and other expenses that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.
 
The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources.  Terms can be up to 30 years based on each applicant’s financial condition.
 
Disaster loan information and application forms may be obtained by calling the SBA’s Customer Service Center 800-659-2955 (800-877-8339 for people with speech or hearing disabilities) Monday through Friday from 8 a.m. to 6 p.m. and Saturday from 9 a.m. to 5:30 p.m. EDT or by sending an e-mail to disastercustomerservice@sba.gov. Loan applications can be downloaded from the SBA’s website at www.sba.gov/services/disasterassistance. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. 
 
Those affected by the disaster may apply for disaster loans from SBA’s secure website at https://disasterloan.sba.gov/ela/.
 
Completed loan applications must be returned to SBA no later than May 10, 2010.