Small Business Administration money available for #AltusOK area folks

One Month Left to Apply for SBA Disaster Loans

SACRAMENTO, Calif. – District Director Dottie Overal of the U.S. Small Business Administration’s (SBA) Oklahoma District Office, today reminded small businesses of the February 26, 2016, deadline to apply for an SBA federal disaster loan for economic injury caused by the severe storms, tornadoes, straight‑line winds and flooding that occurred May 5 - June 22, 2015.

According to Overal, small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for Economic Injury Disaster Loans (EIDLs) of up to $2 million to help meet working capital needs caused by the disaster. “EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. EIDL assistance is available regardless of whether the applicant suffered any property damage,” Overal said.

These low-interest federal disaster EIDL loans are available in the following counties:

Oklahoma counties - Adair, Atoka, Beckham, Blaine, Bryan, Caddo, Canadian, Carter, Cherokee, Choctaw, Cleveland, Coal, Comanche, Cotton, Craig, Creek, Custer, Delaware, Garfield, Garvin, Grady, Greer, Harmon, Haskell, Hughes, Jackson, Jefferson, Johnston, Kingfisher, Kiowa, Latimer, Le Flore, Lincoln, Logan, Love, Marshall, Mayes, McClain, McCurtain, McIntosh, Murray, Muskogee, Noble, Nowata, Okfuskee, Oklahoma, Okmulgee, Osage, Ottawa, Pawnee, Payne, Pittsburg, Pontotoc, Pottawatomie, Pushmataha, Roger Mills, Rogers, Seminole, Sequoyah, Stephens, Tillman, Tulsa, Wagoner, Washington and Washita;

Arkansas counties - Benton, Crawford, Little River, Polk, Scott, Sebastian, Sevier and Washington;

Kansas county - Cherokee;

Missouri counties - McDonald and Newton;

Texas counties - Bowie, Clay, Collingsworth, Cooke, Fannin, Grayson, Lamar, Montague, Red River, Wheeler, Wichita and Wilbarger.

The interest rate is 4 percent for businesses and 2.625 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.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website athttps://disasterloan.sba.gov/ela.

Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or emailing disastercustomerservice@sba.gov. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. For more disaster assistance information, or to download applications, visit http://www.sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

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