ATLANTA--(BUSINESS WIRE)--The U.S. Small Business Administration is reminding small businesses in Alabama affected by the Deepwater BP Oil Spill that only two weeks remain to apply for working capital loans.
“Businesses that suffered economic losses as a result of the oil spill and want to apply for low-interest loans from the SBA are urged to do so before the Feb. 14 deadline,” said Frank Skaggs, director of SBA Field Operations Center East.
Economic Injury Disaster Loans (EIDLs) up to $2 million are available at 4 percent for small businesses and 3 percent for private non-profit organizations of all sizes, with terms up to 30 years. These EIDLs are intended to pay fixed debts, payroll, accounts payable, and other expenses that could have been paid had the disaster not occurred. To be considered for this assistance, disaster victims need to apply by the deadline.
The loans are available to small businesses and most private non-profit organizations in the following counties: Baldwin, Clarke, Escambia, Mobile, Monroe, and Washington in Alabama; Escambia in Florida and George, Greene and Jackson in Mississippi.
For more information on the SBA’s Disaster Loan Program, to obtain application forms or to apply online visit www.sba.gov, send an email to disastercustomerservice@sba.gov or call the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the hearing-impaired) Monday through Friday from 8 a.m. to 6 p.m. ET.
Loan applications should be returned to the SBA no later than February 14, 2011.
For more information about the SBA’s Disaster Loan Programs, visit our website at www.sba.gov.
Release Number: 11-267, AL 12174