Drought Relief for Small Business Owners in Columbiana, Mahoning, and Trumbull Counties Low-interest Drought Relief Loans are Available to Columbiana, Mahoning, and Trumbull Counties; Deadline to Apply is Dec. 5, 2017
BigNews.Biz - Apr 20,2017 - Brown Announces Drought Relief for Small Business Owners in Columbiana, Mahoning, and Trumbull Counties
Low-interest Drought Relief Loans are Available to Columbiana, Mahoning, and Trumbull Counties; Deadline to Apply is Dec. 5, 2017
WASHINGTON, D.C. – U.S. Sen. Sherrod Brown (D-OH) announced the U.S. Small Business Administration (SBA) has made Economic Injury Disaster Loans available to small businesses, including those engaged in aquaculture, small agricultural cooperatives, and private nonprofit organizations in Columbiana, Mahoning, and Trumbull counties. These counties were adversely effected by the drought between May 1 and Dec. 10, 2016.
“SBA drought relief loans provide important lifelines for Ohio businesses that have faced weather-related challenges,” said Brown. “I encourage Columbiana, Mahoning and Trumbull County businesses to take advantage of this opportunity for financial relief following the drought.”
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 the drought. These low-interest loans are available for up to $2 million with interest rates of 2.625 percent for private nonprofit organizations and 4 percent for small businesses, with terms up to 30 years. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela or 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 email@example.com. Loan applications can be downloaded from the SBA’s website at www.sba.gov/disaster.
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 Dec. 5, 2017.