Deadline approaching for Tropical Storm Debby SBA Loan applications
08/31/2012 09:10 am
Businesses of all sizes, as well as nonprofit organizations, need to apply for disaster loans from the
U.S. Small Business Administration (SBA) by Sept. 4. These low-interest loans are intended to cover uninsured or under-insured losses.
Disaster loans are available for businesses that have had business assets damaged by Tropical Storm Debby. Damaged real estate, equipment and inventory are eligible for repair or replacement with SBA disaster loans. Businesses may apply for up to $2 million in loans with interest rates as low as 4 percent.
Businesses suffering substantial economic loss, but no physical property damage may be eligible for an economic injury disaster loan of up to $2 million to meet necessary financial obligations – expenses a business would have paid if the disaster had not occurred.
An electronic loan application may be completed online via
SBA’s website. Business owners can contact the SBA for information by calling 800.659.2955 or going to