WASHINGTON, D.C. – Today, U.S. Senator Sherrod Brown (D-OH) encouraged Cuyahoga County small businesses, including those engaged in aquaculture, small agricultural cooperatives, and private nonprofit organizations to apply for the U.S. Small Business Administration’s (SBA) Economic Injury Disaster Loans ahead of the deadline on May 11. Cuyahoga County was adversely effected by frost and freeze between May 7 and May 15, 2017.
“SBA disaster relief loans provide important lifelines for Ohio businesses that have faced weather-related challenges,” said Brown. “I encourage Cuyahoga County businesses to take advantage of this opportunity for financial relief.”
These low-interest loans are available for up to $2 million with interest rates of 3.215 percent for eligible small businesses and 2.5 percent for nonprofit organizations, and terms up to 30 years. 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.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at Disasterloan.sba.gov.
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 email@example.com. Loan applications can be downloaded from the SBA’s website at www.sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.