Oklahoma companies still attemptingaiming to get rid of the hardship causeddued to the current dry spell, have till Oct. 5 to apply for Small Company Administration’s catastrophe loans.
Director Tanya N. Garfield of the US Small CompanySmall company Administration’s (SBA) Disaster Field Operations Center West is reminding small, nonfarm companies in 53 Oklahoma counties and surrounding states of the October due date.
These low-interest loans are to balance out financial losses due to the fact that of lowered profits caused by the dry spell in that began Oct. 16, 2014.
Companies situated in Tulsa, Rogers and Wagoner counties were among the list of those eligible to usemake an application for loans.
Other Oklahoma counties include: Alfalfa, Beaver, Beckham, Blaine, Caddo, Canadian, Carter, Cimarron, Comanche, Cotton, Creek, Custer, Dewey, Ellis, Garfield, Grady, Grant, Greer, Harmon, Harper, Jackson, Jefferson, Kay, Kingfisher, Kiowa, Logan, Love, Major, Noble, Osage, Pawnee, Roger Mills, Stephens, Texas, Tillman, Washita, Woods, Woodward, Cleveland, Garvin, Johnston, Lincoln, Marshall, McClain, Murray, Okfuskee, Oklahoma, Okmulgee, Payne and Washington.
According to Garfield, small nonfarm businesses, little agricultural cooperatives, small businessessmall companies taken part in aquaculture and most personal not-for-profit organizations of any size may use for Economic Injury Disaster Loans (EIDLs) of up to $2 million to helpto assist meet working capital requirements causeddued to the catastrophe.
“EIDLs may be utilized to pay fixed debts, payroll, accounts payable and other bills that can not be paid since of the catastrophe’s effect,” said Garfield.
“SBA eligibility covers both the financial impactseffect on companies dependentbased on farmers and ranchers that have actually suffered agricultural production losses causeddued to the disaster and companies directly impacted by the disaster. EIDL help is offered no matter whether the candidate suffered any home damage,” Garfield included.
The interest rate is 4 percent for businesses and 2.625 percent for private not-for-profit organizations with terms up to Three Decade. Loan amounts and terms are set by SBA and are based on each candidate’s financial condition.
Businesses mainly taken part in farming or ranching are not eligible for SBA disaster help. Agricultural business should get in touch with the Farm Services Firm about the United States Department of Agriculture assistance made readily availableprovided by the Secretary’s declaration. However, nurseries are eligible for SBA disaster help in dry spell catastrophes.
Candidates might use online utilizing the Electronic Loan Application (ELA) by means of SBA’s secure site at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are likewise readily available from SBA’s ClientClient service Center by calling -LRB-800-RRB-Â 659-2955 or emailing firstname.lastname@example.org.
Completed applications ought to be mailed to: US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Roadway, Fort Worth, TX 76155.