SACRAMENTO, Calif .– The US Small Business Administration is offering low-interest federal disaster working capital loans to all small businesses in Montana suffering substantial economic hardship from coronavirus and disease that it causes, COVID-19, SBA administrator Jovita Carranza announced on Saturday.
SBA disaster assistance is now available in all counties in Montana state and neighboring counties below.
Neighboring counties of Idaho: Bonner, Boundary, Clark, Clearwater, Fremont, Idaho, Lemhi and Shoshone;
Neighboring counties of North Dakota: Bowman, Divide, Golden Valley, McKenzie, Slope and Williams; Neighboring counties of South Dakota: Butte and Harding;
Wyoming’s neighboring counties: Big Horn, Campbell, Crook, Park, Sheridan, and Teton.
“The SBA is strongly committed to providing the most effective, customer-centric response possible to assisting small businesses in Montana with federal disaster loans. We will be swift in our efforts to help these small businesses recover from the financial impacts of the coronavirus (and) COVID-19, ”Carranza said.
SBA Customer Service Representatives will be available to answer questions about the SBA Economic Disaster Loan Program and explain the application process.
“Small businesses, private non-profit organizations of all sizes, small agricultural cooperatives and small aquaculture businesses that have been financially affected as a direct result of the coronavirus (and) COVID-19 since January 31, 2020, can be eligible for economic disaster loans. up to $ 2 million to help meet financial obligations and operating expenses that might have been covered had the disaster not occurred, ”Carranza said.
“These loans can be used to pay fixed debts, salaries, accounts payable and other bills that cannot be paid due to the impact of the disaster. Disaster loans can provide vital economic assistance to small businesses to help them overcome the temporary loss of income they suffer, ”Carranza added.
Eligibility for economic disaster loans is based on the financial impact of the coronavirus and COVID-19. The interest rate is 3.75% for small businesses. The interest rate for private non-profit organizations is 2.75%. SBA offers loans with long-term repayments to keep payments affordable, up to a maximum of 30 years, and are available to entities without the financial capacity to offset the negative impact without difficulty.
Applicants can apply online, receive additional information about disaster assistance, and download applications at https://disasterloan.sba.gov/ela. Applicants can also call the SBA Customer Service Center at 800-659-2955 or send an email [email protected], for more information on SBA Disaster Assistance. People who are deaf or hard of hearing can call 800-877-8339. Completed applications should be mailed to US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for an economic disaster loan is December 17.
For more information on the coronavirus, people can visit http://oronavirus.gov .
For more information on available SBA resources and services, people can visit http://SBA.gov/coronavirus .