There were 1,024 press releases posted in the last 24 hours and 398,328 in the last 365 days.

SBA Economic Injury Disaster Loans Available to WY Small Businesses

Small nonfarm businesses in nine Wyoming counties and neighboring counties in Idaho, Montana, South Dakota and Utah are now eligible to apply for low‑interest federal disaster loans from the U.S. Small Business Administration, announced Director Tanya N. Garfield of SBA’s Disaster Field Operations Center-West. These loans offset economic losses because of reduced revenues caused by drought in the following primary counties that began Oct. 6, 2020.

Primary Wyoming counties:  Crook, Lincoln and Sublette;

Neighboring Wyoming counties:  Campbell, Fremont, Sweetwater, Teton, Uinta and Weston;

Neighboring Idaho counties:   Bear Lake, Bonneville and Caribou;

Neighboring Montana counties:   Carter and Powder River;

Neighboring South Dakota counties:   Butte and Lawrence;

Neighboring Utah county:  Rich.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster,” Garfield said.

Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.

“Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 3 percent for businesses and 2.75 percent for private nonprofit organizations, a maximum term of 30 years and are available to small businesses and most private nonprofits without the financial ability to offset the adverse impact without hardship,” Garfield said.

By law, SBA makes Economic Injury Disaster Loans available when the U.S. Secretary of Agriculture designates an agricultural disaster. The Secretary declared this disaster on Dec. 17, 2020.

Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration. However, nurseries are eligible for SBA disaster assistance in drought disasters.

The deadline to apply for economic injury is Aug. 17, 2021.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.