November 30, 2010
SBA Loans Still Available For Spring Flood Damage
By Matthew L. Brown
Businesses and nonprofit organizations impacted by storms and flooding last spring can still apply for U.S. Small Business Administration Economic Injury Disaster Loans, the SBA said.
Organizations in Worcester, Middlesex, Norfolk and other Massachusetts counties that suffered substantial economic injury are eligible for loans of up to $2 million.
The interest rates on the loans are 3 percent for nonprofits and 4 percent for businesses and can be used for a variety of purposes from paying fixed debts to payroll and other bills.
Businesses in certain New Hampshire, Connecticut and Rhode Island counties are also eligible.
The deadline for applications is Dec. 29.
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