Categorized | News Release

SBA Loans Deadline Approaching

SBA Deadline Nov. 22 to Apply for Working Capital Loans for January Severe Winter Snow Storm in New Jersey

Press Release 10/12/16

ATLANTA – The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small aquaculture businesses and most private nonprofit organizations in New Jersey of the deadline to submit disaster loan applications for damages caused by the severe winter snow storm on Jan. 22 – 24, 2016.

“Businesses that suffered economic losses as a result of the disaster and want to apply for low-interest loans from the SBA are urged to do so before the Nov. 22 deadline,” said Frank Skaggs, director of SBA Field Operations Center East.

Low-interest disaster loans are available in the following counties: Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester and Ocean in New Jersey.

Working capital disaster loans up to $2 million are available at 4 percent for small businesses, and 2.625 percent for private nonprofit organizations with terms up to 30 years. 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.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.

Businesses may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing disastercustomerservice@sba.gov. Loan applications can also be downloaded at www.sba.gov/disaster.

Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to return economic injury applications is Nov. 22, 2016.

For more information about the SBA’s Disaster Loan Program, visit our website at www.sba.gov/disaster.

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