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Northshore Conifer posted on May 06, 2010 17:08
The St. Tammany Economic Development Foundation is encouraging businesses affected by the oil spill to apply for Small Business Administration loans, which were made available today.
SBA has announced that loans of up to $2 million are available at low interest rates and 30-year terms for companies suffering financial losses as a result of the explosion of the Deepwater Horizon on April 20 and the ensuing oil spill in the Gulf of Mexico. SBA's Economic Injury Disaster Loans (EIDL) are available immediately to help qualifying small businesses following the oil spill.
Eligible small businesses include companies engaged in shrimping, crabbing and oyster fishing in the waters affected by the closure; small businesses dependent on the catching or sale of shrimp, crabs and oysters, suppliers of fishing gear and fuel; docks, boatyards, processors, wholesalers, shippers, retailers and other small businesses dependent on revenue from fishing, recreational and sports fishing small businesses, and coastal small businesses.
"SBA is accepting applications for the loans through Feb. 7, 2011, but the application process takes time and eligible businesses should not wait unnecessarily to apply," said Brenda Reine-Bertus, executive director of the STEDF.
Small businesses in the area who are already repaying SBA disaster loans will also be eligible for a deferment, on a case-by-case basis. For information on seeking a disaster loan deferment, call the SBA's Disaster Customer Service Center at (800) 659-2955.
The SBA will announce the location of several Disaster Loan Outreach Centers in the affected communities within the next few days. SBA customer service representatives will be available at each center to meet with business owners to answer questions about the disaster loan program, issue applications and help them complete the forms. Applicants may obtain loan information and application forms by either calling SBA's Customer Service Center at (800) 659-2955 (800-877-8339 for the hearing impaired), e-mailing disastercustomerservice@sba.gov, or visiting SBA's Web site at www.sba.gov/services/disasterassistance.
"With so many fishers and other businesses in our area adversely affected by this tragedy, it is encouraging to see the SBA acting quickly in St. Tammany and other parishes to mitigate the financial challenges that will ensue," Reine-Bertus said. |
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