Deadline nears for SBA disaster loans

Special to The SUN
Director Tanya N. Garfield of the U.S. Small Business Administration’s (SBA) Disaster Field Operations Center-West recently reminded small nonfarm businesses in 18 Colorado counties of the Jan. 25, 2019, 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 drought in the following primary counties that began May 15, 2018.
Primary Colorado counties include Alamosa, Archuleta, Conejos, Gunnison, Hinsdale, Mineral and Rio Grande.
According to 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.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disaster- loan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

This story was posted on January 9, 2019.