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Deadline approaching for Delta related SBA working capital loans

Forgivable funds still available for small businesses
Forgivable funds still available for small businesses(SBA)
Updated: Jun. 16, 2021 at 11:39 AM CDT
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Lake Charles, LA (KPLC) - The U.S. Small Business Administration reminds businesses that the deadline to apply for SBA federal disaster loans due to economic injury from Hurricane Delta is July 16, 2021.

Small aquaculture and most private nonprofit business organizations of any size can apply for Economic Injury Disaster Loans of up to $2 million to help with working capital needs caused by Delta. The loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the applicant suffered any property damage.

These low-interest federal disaster loans are available in all Southwest Louisiana Parishes including Vernon.

The interest is 3 percent for businesses and 2.75 percent for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

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.

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