Disaster Loans for Small Businesses

Wed, Sep 20, 2017 at 9:00AM

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Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.  Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. 

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster.  Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage. Applicants may apply at https://disasterloan.sba.gov/ela. To be considered for all forms of disaster assistance, applicants should register online at www.DisasterAssistance.gov


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