SBA Disaster Loan deadline April 7
The U.S. Small Business Administration’s Disaster Field Operations Center-West is reminding small non-farm businesses in 100 Missouri counties and neighboring counties in Arkansas, Illinois, Iowa, Kansas and Oklahoma of the April 7, 2020, deadline to apply for an SBA federal disaster loan for economic injury.
These low-interest loans are to offset economic losses because of reduced revenues caused by excessive rain and flooding in the following primary counties that began March 9, 2019.
Primary Missouri counties: Adair, Audrain, Bates, Boone, Butler, Caldwell, Callaway, Camden, Cape Girardeau, Clark, Clay, Cole, Cooper, Daviess, DeKalb, Franklin, Gasconade, Grundy, Harrison, Howard, Jasper, Jefferson, Knox, Laclede, Lafayette, Lawrence, Lincoln, Linn, Livingston, Maries, Marion, McDonald, Mercer, Miller, Moniteau, Monroe, Montgomery, Newton, Osage, Pettis, Pike, Pulaski, Putnam, Randolph, Schuyler, Scotland, Scott, Shelby, St. Charles, Stoddard, Vernon, Warren and Wright.
Neighboring Missouri counties: Andrew, Barry, Barton, Benton, Bollinger, Buchanan, Carroll, Carter, Cass, Cedar, Chariton, Christian, Clinton, Crawford, Dade, Dallas, Douglas, Dunklin, Gentry, Greene, Henry, Hickory, Jackson, Johnson, Lewis, Macon, Mississippi, Morgan, New Madrid, Perry, Phelps, Platte, Ralls, Ray, Ripley, St. Clair, St. Francois, St. Louis, Ste. Genevieve, Saline, Stone, Sullivan, Texas, Washington, Wayne, Webster and Worth.
Neighboring Kansas counties: Bourbon, Cherokee, Crawford, Linn, Miami and Wyandotte;
Neighboring Oklahoma counties: Delaware and Ottawa.
According to Director Tonya Garfield, small non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for Economic Injury Disaster Loans of up to $2 million to help meet working capital needs caused by the disaster. “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,” said Garfield.
“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster. Economic injury assistance is available regardless of whether the applicant suffered any property damage,” Garfield added.
The interest rate is 4 percent for businesses and 2.75 percent for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/
Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.