Conditions were streamlined and simplified, and more funds were made available up front, as borrowing limits were doubled in response to the global financial crisis. These limits were increased further in The new framework also enables broader high-access borrowing on a precautionary basis.
Small Business Administration SBA announced today that federal Economic Injury Disaster Loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations in Chambers, Lee and Randolph counties in Alabama as a result of the drought that began on June 14, The Small Business Administration recognizes that disasters do not usually stop at county or state lines.
With the exception of aquaculture enterprises, SBA can not provide disaster loans to agricultural producers, farmers, or ranchers. Nurseries are eligible to apply for economic injury disaster loans for losses caused by drought conditions.
The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. 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. Completed applications should be mailed to: Completed loan applications must be returned to SBA no later than April 10, Thursday, August 18, — 8:The SBA's eligibility criteria for economic injury disaster loans of up to $2 million extends to small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture.
We support America's small businesses. The SBA connects entrepreneurs with lenders and funding to help them plan, start and grow their business.
We believe that small businesses are essential to the economic prosperity of our State. We utilize the US Small Business Administration's 7(a) and programs amongst others to address the demonstrated need for additional capital for small businesses in our State.
Jan 10, · Karen Mills argues that the Small Business Administration is an effective public-private partnership model that fuels economic growth, access, and opportunity for all Americans.
Sunshine State Economic Development Corporation is a not-for-profit certified development corporation (CDC) licensed by the U.S. Small Business Administration to offer the SBA . SBA 8(a), HUBZone and VA VetBiz Program Specialists Disclaimer: Any reference obtained from this website to a specific product, process, or service does not constitute or imply an endorsement by SBA or the United States Government.