June deadline announced for SBA disaster loans stemming from July, August rainfall

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The U.S. Small Business Administration announced that  small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations face a  June 13  for  filing deadline for federal economic injury disaster loans.

The loans are for injury caused by  a excessive rain from July 28 through Sept. 2, 2017.

This disaster declaration includes the following counties: Kent and Sussex in Delaware.

Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, or ranchers, a release stated.

The loans are for working capital and can be up to $2 million with interest rates of 3.305 percent for eligible small businesses and 2.5 percent for nonprofit organizations, and terms up to 30 years.

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Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s securewebsite at Disasterloan.sba.gov.

Disaster loan information and application forms may also 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 disastercustomerservice@sba.gov. Loan applications can be downloaded from the SBA’s website at www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

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