Winter Storm Economic Injury Loans for Small Businesses
Sacramento, CA – The Acting Administrator of the U. S. Small Business Administration (SBA), today announced that the SBA is making low-interest Economic Injury Disaster Loans available to small businesses economically impacted by snowstorms in Washington that occurred from December 12, 2008 through January 5, 2009.
The declaration covers all counties in Washington and neighboring counties in Idaho and Oregon. SBA’s disaster declaration immediately makes these low-interest disaster loans available to help small businesses and most private, non-profit organizations meet financial needs caused by the disaster.“The U.S. Small Business Administration is strongly committed to providing the most effective and customer-focused response possible to assist Washington’s small businesses with federal disaster loans,” said Acting Administrator Darryl Hairston. “Getting our businesses up and running after a disaster is our highest priority at SBA.” Hairston’s action responded to a January 28 request from Governor Christine Gregoire. Alfred E. Judd, Director of SBA’s Disaster Field Operations Center - West, said SBA acted under its own authority to declare this disaster. Judd emphasized, “This disaster declaration is a separate event from President Obama’s January 30 declaration for the severe winter storms, flooding, landslides and mudslides that occurred from January 6 through January 16 in eight Washington counties.”
SBA is offering working capital loans of up to $2 million at an interest rate of 4 percent with terms up to 30 years. “These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. These loans can provide vital economic assistance to small businesses
affected by the snowstorms to help overcome the temporary financial impacts they are experiencing,” said Judd.“Due to the economic loss the December snow storms caused small businesses in Washington, we want to provide every available service to help get them back on their feet,” said Judd. “SBA is opening nine Disaster Loan Outreach Centers where SBA customer service representatives will be available to meet individually with each business owner to explain how an SBA disaster loan can help finance their recovery. “We can answer your questions about SBA’s disaster loan program, explain the application process and accept your
completed application,” he said. The SBA Disaster Loan Outreach Centers will be open at the following locations on the days and times indicated.For more information visit SBA’s website at www.sba.gov.
Island County
The Island County Economic
Development Council
180 NW Coveland Street
Coupeville, WA
Open Thurs., Feb. 5 and Fri., Feb. 6,
Thurs., Feb. 12 and Fri., Feb. 13
9 am to 1 pm
San Juan County
Legislative Building Second Floor
55 2nd Street
Friday Harbor, WA
Open Thurs., Feb. 5 and Fri., Feb. 6
and Wed., Feb. 11 thru Fri., Feb. 13
9 am to 1 pm
SBA has not set up an Outreach Center in Whatcom County. SBA will also provide customer service to business owners for the December economic injury declaration at all Disaster Recovery Centers that are open to help individuals and business owners who suffered property damage or economic loss as a result of the January severe winter storms and flooding disaster.
Applicants may apply for SBA loan assistance online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela. Disaster loan information and application forms may also be obtained from SBA’s Customer Service Center by calling toll-free (800) 659-2955, emailing
disastercustomerservice@sba.gov, or by visiting SBA’s Web site at www.sba.gov/services/disasterassistance.Hearing impaired individuals may call (800) 877-8339.
The deadline to apply for these loans is October 30, 2009.
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