Updated 10:45 PM MST
Disaster loans available for small businesses in the Imperial County.
Small, non-farm businesses in Imperial county in California are now eligible to apply for low-interest federal disaster loans from the U. S. Small Business Administration (SBA).
"These loans offset economic losses because of reduced revenues caused by the flooding and flash flooding associated with monsoonal thunderstorms that occurred from July 13 - August 13, 2012, in Imperial County," announced Alfred E. Judd, Director of SBA's Disaster Field Operations Center-West.
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.
Small businesses may qualify for Economic Injury Disaster Loans (EIDLs) of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.
Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4% for businesses and 3% for private, nonprofit organizations, a maximum term of 30 years, and are available to small businesses and most private, nonprofits without the financial ability to offset the adverse impact without hardship.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure Web site at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available from SBA's Customer Service Center by calling SBA toll-free at (800) 659-2955, emailing firstname.lastname@example.org, or visiting SBA's Web site at www.sba.gov/services/disasterassistance. Individuals who are deaf or hard-of-hearing may call (800) 877 8339.
The deadline to apply for these loans is July 15, 2013.