Loans Available To Businesses Hurt By Leominster Fire
Working capital loans are still available to businesses and nonprofit organizations impacted by the fire that destroyed the historic Columbia Hotel in downtown Leominster on Nov. 24, but the deadline for applications is Sept. 12, the U.S. Small Business Administration said.
The Economic Injury Disaster Loans, which carry interest rates of 3 percent for nonprofits and 4 percent for small businesses, are available to organizations in Franklin, Hampden, Hampshire, Middlesex, Norfolk and Worcester counties, as well as counties in Connecticut, New Hampshire and Rhode Island.
The loans are designed to pay fixed debts, payroll, accounts payable and other expenses that could have been paid had a disaster not occurred.
Applicants can apply online using an electronic loan application at https://disasterloan.sba.gov/ela, or by calling 800-659-2955.
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