SBA Economic Injury Disaster Loans Available in Maryland
Westminster, MD
12/17/2018 09:59 AM

SBA Economic Injury Disaster Loans Available in Maryland Following Secretary of Agriculture Disaster Declaration

ATLANTA - The U.S. Small Business Administration announced today that Economic Injury Disaster
Loans are available to small businesses, small agricultural cooperatives, small businesses engaged in
aquaculture and private nonprofit organizations located in Baltimore, Carroll and Harford counties
in Maryland as a result of excessive rain, flash flooding and flooding that began on July 21, 2018.

“These counties are eligible because they are contiguous to one or more primary counties in
Pennsylvania. The Small Business Administration recognizes that disasters do not usually stop at
county or state lines. For that reason, counties adjacent to primary counties named in the declaration
are included,” said Kem Fleming, director of SBA’s Field Operations Center East.

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. With the exception of 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 2.5 percent for private nonprofit
organizations of all sizes and 3.61 percent for small businesses, 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 SBA’s secure website at

Disaster loan information and application forms may also be obtained by calling the SBA’s Customer
Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email
to Loan applications can be downloaded from Completed applications should be mailed to: U.S. Small Business
Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Submit completed loan applications to SBA no later than July 29, 2019.

Michale lampton
Powered By CC-Assist.NET