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Deadline near for SBA federal disaster loans

Director Martin Golden of the U.S. Small Business Administration’s Portland District Office reminds Oregon small businesses of the Dec. 9 deadline to apply for an SBA federal disaster loan for economic injury caused by severe winter storms, straight-line winds, flooding, landslides and mudslides in Clackamas and Tillamook counties that occurred Dec. 6-23, 2015.

Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for 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,” Golden said.

These low-interest federal disaster loans are available in Clackamas, Clatsop, Columbia, Hood River, Lincoln, Marion, Multnomah, Polk, Tillamook, Wasco, Washington and Yamhill counties.

The interest rate is 4 percent for businesses and 2.625 percent for private nonprofit organizations with terms up to 30 years.

Applicants may apply online using SBA’s secure website at disasterloan.sba.gov/ela.

Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling 800-659-2955 or emailing disastercustomerservice@sba.gov.

Individuals who are deaf or hard-of-hearing may call 800-877-8339. For more disaster assistance information or to download applications, visit 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.



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