Small businesses, nonprofits can get Debby disaster loans

Thursday, Aug 9, 2012 3:58 PM
Last updated Friday, Aug 10, 2012 6:30 PM
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Editor’s note: Earlier editions of this article misstated who was eligible for disaster-assistance loans from the U.S. Small Business Administration. Farmers in the affected counties seeking assistance should contact the U.S. Department of Agriculture. This is the corrected version of that article.

ATLANTA — Small businesses and nonprofits suffering from excessive rain or flooding during June from Tropical Storm Debby can get disaster-assistance loans, the U.S. Small Business Administration announced Thursday.

The low-interest loans are available in Camden, Charlton, Clinch, Echols and Lowndes counties. The Georgia benefits are unusual because most of the damage was in Florida.

“These counties are eligible because they are contiguous to one or more primary counties in Florida,” said Frank Skaggs, the director of SBA’s office in Atlanta. “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.”

Those who qualify can borrow up to $2 million at 4 percent interest over as much as 30 years. Loans can be used to pay debts, payroll or vendors but not to replace sales or profits.

Apply online at disasterloan.sba.gov/ela or by phone at (800) 659-2955.

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cheapster505
581
Points
cheapster505 08/10/12 - 09:21 am
0
0
TEA anyone?

of course no respected Repub or tea partier will scream about these Gov't hand outs "Why is the Gov't in the Loan bis anyway youknow with the DRought these loans are not going to be paid back and bus failure rates they are not ...blah blah but this election cycle? never hear of BIG GOVERNMENT

cheapster505
581
Points
cheapster505 08/10/12 - 09:28 am
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0
SBA

SBA should take over the housing after the crash they could have declared a housing crisis and given homeowners the same loans right away 2 million@4% would have saved alot of homes

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