SBA: Deadline nears for small business disaster loans for Great Lakes states: IL, IN, MI, MN, WI

The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes that March 25, 2013 is the filing deadline for federal economic injury disaster loans available in:

Michigan: Dickinson, Gogebic, Iron and Menominee counties as a result of unseasonably early thaw, unseasonably warm nights and excessive heat from Jan. 23 through Mar. 31, 2012.

Minnesota: Chisago, Dakota, Goodhue, and Washington counties as a result of unseasonably early thaw, unseasonably warm nights and excessive heat from Jan. 23 through Mar. 31, 2012.

Illinois: Clark, Edgar and Vermilion counties as a result of the drought that began on July 17, 2012;

Indiana: Benton, Blackford, Boone, Carroll, Cass, Clay, Clinton, Decatur, Delaware, Fayette, Fountain, Franklin, Grant, Hamilton, Hancock, Hendricks, Henry, Howard, Jasper, Jay, Madison, Marion, Montgomery, Parke, Pulaski, Putnam, Randolph, Rush, Shelby, Sullivan, Tippecanoe, Tipton, Vermillion, Vigo, Warren, Wayne, Wells and White counties as a result of the drought that began on July 17, 2012.

Wisconsin: Barron, Brown, Burnett, Chippewa, Clark, Door, Dunn, Florence, Forest, Iron, Kewaunee, Langlade, Lincoln, Manitowoc, Marathon, Marinette, Menominee, Oconto, Oneida, Outagamie, Pepin, Pierce, Polk, Portage, Price, Rusk, Saint Croix, Sawyer, Shawano, Taylor, Vilas, Washburn, Waupaca and Wood counties as a result of unseasonably early thaw, unseasonably warm nights and excessive heat from Jan. 23 through Mar. 31, 2012.

“These counties are eligible because they are contiguous to one or more primary counties in Wisconsin. The Small Business Administration recognizes that disasters do not usually stop at county or state lines. For that reason, counties adjacent to primary counties named in the declaration are included,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.

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.

The working capital loan amount can be up to $2 million with interest rates as low as 4 percent for eligible small businesses and 3 percent for non-profit organizations with terms up to 30 years.

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

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.

Completed loan applications must be returned to SBA no later than March 25, 2013.

Small Business