Jan. 26 Deadline to Apply for a Disaster Loan, Says Small Business Administration News

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The deadline for filing applications for economic disaster loans by businesses affected by the March 2021 tornadoes is January 26, the US Small Business Administration (SBA) said.

People eligible to apply for loans are “small businesses, small farmer cooperatives, small businesses engaged in aquaculture, and private non-profit organizations” in a number of counties in Alabama, including Dallas County.

Other eligible counties in Alabama are: Bibb, Blount, Calhoun, Chambers, Cherokee, Chilton, Clay, Cleburne, Coosa, Etowah, Greene, Hale, Jefferson, Marengo, Perry, Randolph, Saint Clair, Shelby, Talladega, Tallapoosa, Tuscaloosa and Walker.

“Disaster working capital loans of up to $ 2 million are available at 3% for small businesses and 2% for private not-for-profit organizations, with terms of up to 30 years “, states an SBA press release.

“The loans are intended to pay fixed debts, payroll, accounts payable and other expenses that could have been paid if the disaster had not occurred. To be considered for this assistance, eligible entities must apply by the January 26 deadline. ”

Requests can be made at this link under SBA Statement # 16937. The press release notes that this does not apply to the COVID pandemic.

For more information, call the SBA Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard of hearing), or email catastrophecustomerservice @ sba.gov.

Applications can also be downloaded from sba.gov/disaster. They can be mailed to: US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

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