SBA Economic Injury Disaster Loans Available in Kentucky Following Secretary of Agriculture Disaster Declaratio

Posted at 12:47 PM, Dec 06, 2018
and last updated 2018-12-06 12:47:32-05

ATLANTA – The U.S. Small Business Administration announced today that Economic Injury Disaster
Loans are available to small businesses, small agricultural cooperatives, small businesses engaged in
aquaculture and private nonprofit organizations located in Kentucky as a result of excessive rain,
excessive moisture, flooding and flash flooding that occurred from April 1 through Nov. 8, 2018.

The loans are available in the following counties: Bath, Bourbon, Boyd, Bracken, Carter, Casey, Clark,
Elliott, Fayette, Fleming, Franklin, Garrard, Grant, Greenup, Harrison, Jackson, Jessamine, Johnson,
Laurel, Lawrence, Lewis, Lincoln, Madison, Martin, Mason, McCreary, Menifee, Mercer, Morgan,
Nicholas, Owen, Pendleton, Pulaski, Robertson, Rockcastle, Rowan, Russell, Scott, Wayne and
Woodford in Kentucky.

“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages
and losses to crops, the Small Business Administration issues a declaration to eligible entities,
affected by the same disaster,” said Kem Fleming, director of SBA’s Field Operations Center East.

Under this declaration, the 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 this
disaster. With the exception of aquaculture enterprises, SBA cannot provide disaster loans to
agricultural producers, farmers and ranchers.

The loan amount can be up to $2 million with interest rates of 2.5 percent for private nonprofit
organizations of all sizes and 3.58 percent for small businesses, with terms up to 30 years. The SBA
determines eligibility based on the size of the applicant, type of activity and its financial resources.
Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
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. The loans are not intended to replace lost
sales or profits.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at

Disaster loan information and application forms may also be obtained 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

Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Submit completed loan applications to SBA no later than July 29, 2019.