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Deadline approaching in Ky for SBA working capital loans

Posted at 10:44 AM, Jun 28, 2019

ATLANTA – The U.S. Small Business Administration wants to remind small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations that July 29 is the filing deadline for federal economic injury disaster loans in Kentucky as a result of excessive rain and excessive moisture, flooding and flash flooding that occurred from April 1 through Nov. 8, 2018.

This disaster declaration includes 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.

Under the 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, or ranchers.

The loans are for working capital and can be up to $2 million with interest rates of 3.58 percent for eligible small businesses and 2.5 percent for nonprofit organizations, and terms up to
30 years.

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

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 to disastercustomerservice@sba.gov.

Loan applications can be downloaded from the SBA’s website at sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.