ADVISORY: SBA FEDERAL ECONOMIC INJURY DISASTER LOANS AVAILABLE IN GEORGIA
ALBANY, GA— As a result of the drought beginning on August 19, 2014, the U.S. Small Business Administration (SBA) has announced small businesses, small agricultural cooperatives, small aquaculture businesses, and most private nonprofit organizations within the affected areas of the 2nd Congressional District of Georgia that June 15, 2015 is the filing deadline for federal economic injury disaster loans. The working capital disaster loans are can be up to $2 million with interest rates of 4 percent for eligible small businesses and 2.625 percent for non-profit organizations, and terms up to 30 years.
The low-interest disaster loans are available for the following Georgia counties: Baker, Brooks, Calhoun, Colquitt, Cook, Decatur, Dougherty, Early, Grady, Miller, Mitchell, Seminole, Thomas, Tift, and Worth counties. The loans 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, eligible entities need to apply by the deadline.