Small businesses and nonprofit organizations in Leavenworth County still have about a month to apply for U.S. Small Business Administration loans to pay for expenses related to a May 28 tornado.
The deadline for applying for an Economic Injury Disaster Loan is March 16, according to a news release from SBA.
Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for loans of up to $2 million to help meet working capital needs caused by the disaster.
These low-interest federal disaster loans are available in Leavenworth County as well as Douglas, Franklin, Jefferson, Johnson, Miami, Osage and Shawnee counties.
“Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact,” Tanya N. Garfield, director of SBA’s Disaster Field Operations Center-West, said in a news release. “Economic injury assistance is available regardless of whether the applicant suffered any property damage.”
Interest rates are 4% for businesses and 2.75% for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and based on each applicant’s financial condition.
Applicants may apply online, receive additional disaster assistance information and download applications at www.disasterloan.sba.gov/ela
Applicants may also call SBA’s Customer Service Center at 1-800-659-2955 or email email@example.com for more information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call 1-800-877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX, 76155.