By The Chronicle staff
The U.S. Small Business Administration’s Disaster Field Operations Center-West Director Tanya Garfield reminded Washington business owners on Friday of the Nov. 15 deadline to apply for an SBA federal disaster loan for economic injury caused by winter weather and flooding that occurred Jan. 5 through 16.
According to Garfield, small non-farm businesses, agricultural cooperatives and businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for up to $2 million in loans to help meet working capital needs caused by the January flooding.
“Economic Injury Disaster 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,” Garfield said.
The low interest disaster loans are available to businesses in Cowlitz, Grays Harbor, Lewis, Pacific, Pierce, Skamania, Thurston, Wahkiakum and Yakima counties.
Interest rates on loans are 2.83% for businesses and 1.875% for private nonprofits. Loans are for terms of up to 30 years. Loan amounts and terms are set by the Small Business Administration and are based on the financial condition of each applicant.
Applicants may apply online, receive additional assistance and download applications at https://disasterloanassistance.sba.gov/.
For more information, applicants can call the Small Business Administration’s customer service center at 800-659-2955 or email [email protected]. For applicants with hearing or speech disabilities, call 7-1-1 to access telecommunications relay services.
Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas 76155.