ATLANTA - The U.S. Small Business Administration (SBA) is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations that March 16 is the filing deadline for federal economic injury disaster loans in Georgia as a result of flash flooding that occurred on March 24-31, 2021.
This declaration covers Gordon County and the contiguous counties of Bartow, Cherokee, Floyd, Gilmer, Murray, Pickens, Walker and Whitfield in Georgia.
Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. Apart from aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, and ranchers.
The loan amount can be up to $2 million with interest rates of 3 percent for small businesses and 2 percent for private nonprofit organizations, with terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.
Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at DisasterLoanAssistance.sba.gov/ela/s and should apply under SBA declaration # 17056, not for the COVID-19 incident.
Please call if you have any questions.
All the best,
Julie Garrett
Public Affairs Specialist
Field Operations Center - East
U.S. Small Business Administration
(404) 331-0333
Cell (404) 895-7345
julie.garrett@sba.gov
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