Reminder of March Deadline for SBA Loans
By WestKyStar Staff
FRANKFORT, KY - The US Small Business Administration reminds small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes that March 12 is the filing deadline for federal economic injury disaster loans available in Kentucky as a result of the drought that began in June, 2012.
"The availability of this assistance is important to Kentucky’s small businesses and communities impacted by last year’s drought," said Gov. Beshear. "I hope that all who are eligible will take advantage of this opportunity."
Small businesses in the following counties are eligible to access the SBA’s Economic Injury Disaster Loan program: Ballard, Breckinridge, Butler, Caldwell, Calloway, Carlisle, Christian, Crittenden, Daviess, Edmonson, Fulton, Graves, Grayson, Hancock, Henderson, Hickman, Hopkins, Livingston, Logan, Lyon, Marshall, McCracken, McLean, Muhlenberg, Ohio, Simpson, Todd, Trigg, Union, Webster and Warren.
Loans through this program can be up to $2 million with interest rates as low as 4 percent for eligible small businesses and 3 percent for nonprofit organizations, with terms up to 30 years. Detailed 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 the deaf and hard-of-hearing) or by sending an email to firstname.lastname@example.org
Applicants may also apply online, no later than March 12, 2013, using the Electronic Loan Application (ELA) via SBA’s secure website at disasterloan.sba.gov/ela