The deadline to file for Economic Injury Disaster Loans by businesses affected by the tornados of March 2021 is Jan. 26, said the U.S. Small Business Administration (SBA).
Those eligible to apply for loans are “small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and private nonprofit organizations” in a number of counties in Alabama, including Dallas County.
Other counties eligible in Alabama are: Bibb, Blount, Calhoun, Chambers, Cherokee, Chilton, Clay, Cleburne, Coosa, Etowah, Greene, Hale, Jefferson, Marengo, Perry, Randolph, Saint Clair, Shelby, Talladega, Tallapoosa, Tuscaloosa and Walker.
“Working capital disaster loans up to $2 million are available at 3 percent for small businesses, and 2 percent for private nonprofit organizations, with terms up to 30 years,” said a press release by the SBA.
“The loans are intended to pay fixed debts, payroll, accounts payable, and other expenses that could have been paid had the disaster not occurred. To be considered for this assistance, eligible entities need to apply by the Jan. 26 deadline.”
Applications may be filed at this link under SBA declaration # 16937. The press release notes that this does not apply to the COVID pandemic.
For information call the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or email [email protected]
Applications can also be downloaded at sba.gov/disaster. They can be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.