SBA reminds businesses of loan app deadline
Small businesses in Worcester County, especially those engaged in agriculture, have until Oct. 6 to file for economic disaster loans with the federal government for damages caused by excessive moisture and heat over a five-month span last year, the U.S. Small Business Administration (SBA) announced.
The SBA said the deadline applies to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations that were impacted directly by excessive heat and humidity from May 8 through Oct. 20, 2013.
The loans are available in Berkshire, Franklin, Hampden, Hampshire and Worcester counties.
The loans can be written for up to $2 million, with interest rates of 4 percent for eligible small businesses and 2.875 percent for nonprofits, and terms up to 30 years.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure website, at https://disasterloan.sba.gov/ela.
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