Deadline approaching for SBA Working Capital Loans due to January weather
The U.S. Small Business Administration’s Disaster Field Operations Center-West is reminding Washington small businesses of a Nov. 15, 2022, deadline to apply for an SBA federal disaster loan for economic injury caused by winter weather and flooding in Grays Harbor and Pacific County that occurred Jan. 5-16, 2022.
According to Director Tanya N. Garfield, 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 of up to $2 million to help meet working capital needs caused by the disaster.
“Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the applicant suffered any property damage,” Garfield said.
These low-interest federal disaster loans are available in Grays Harbor, Pacific, Cowlitz, Lewis, Pierce, Skamania, Thurston, Wahkiakum and Yakima counties in Washington.
Interest rates are 2.83 percent for businesses and 1.875 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, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/.
Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
