Washington, DC--- U.S. Representative Heath Shuler (D-Waynesville) today reminded small businesses affected by the March 14, 2010 landslide on U.S. Highway 129 of the approaching February 28, 2011 filing deadline for Economic Injury Disaster Loans through the U.S. Small Business Administration (SBA).
“Many small businesses along Highway 129 are still feeling the negative economic impact of last year’s massive rockslide,” said Rep. Shuler. “These SBA loans will provide the critical federal assistance and resources they need to continue to recover, and I urge all eligible small businesses to apply.”
Small businesses and most private non-profit organizations in Cherokee, Graham, Macon, and Swain counties impacted by the rockslide are urged to submit their applications to SBA. Loans are available up to $2 million for eligible entities that suffered substantial economic injury from the disaster. 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 loan amount can be up to $2 million with a 3 percent interest for non-profit organizations, 4 percent for small businesses and terms up to 30 years. The SBA determines the amount of economic injury and the terms of each loan based on the financial circumstances of the borrower. Eligibility for the program is based on the size and type of business and its financial resources.
Disaster loan information and application forms may be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for people with speech or hearing disabilities) Monday through Friday from 8 a.m. to 6 p.m. ET or by sending an e-mail to disastercustomerservice@sba.gov. Those affected by the disaster may apply online for disaster loans from SBA’s secure website at https://disasterloan.sba.gov/ela/.
Loan applications can also be downloaded from www.sba.gov and should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.