Williamson County Chamber: SBA Deadline Approaching For Working Capital Loans In Tennessee For Secretary Of Agriculture Disaster Declara ...

Press release from Williamson County Chamber:

2022-02-09

Disaster Field Operations Center East
Release Date: Feb. 9, 2022 Contact: Michael Lampton (404)
331-0333 Michael.Lampton@sba.gov
Release Number: 22-165, TN 17036 Follow us on Twitter, Facebook, Blogs &
Instagram

SBA Deadline Approaching for Working Capital Loans in Tennessee for Secretary of Agriculture
Disaster Declaration for 2021 Excessive Rain and Flooding
ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses,
small agricultural cooperatives, small businesses engaged in aquaculture, and most private
nonprofit organizations that March 9 is the filing deadline for federal economic injury disaster
loans in Tennessee due to excessive rain and flooding from March 28 through April 8, 2021.

Low-interest disaster loans are available in the counties of Dickson, Hickman,
Humphreys, Lewis, Maury, Perry and Williamson in Tennessee.

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. Apart from 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 3 percent for small
businesses and 2 percent for private nonprofit organizations, 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 the SBA’s
secure website at DisasterLoanAssistance.sba.gov/ela/s/ and should apply under SBA declaration #
17036, not for the COVID-19 incident.

Disaster loan information and application forms may also be obtained by calling the SBA’s Customer
Service Center at 800-659-2955 (for people who are deaf, hard of hearing, or have a speech
disability, please dial 7-1-1 to access telecommunications relay services), or by
sending an email to DisasterCustomerService@sba.gov. Loan applications can be downloaded
from the SBA’s website at 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.
Submit completed loan applications to SBA no later than March 9, 2022.

This press release was produced by Williamson County Chamber. The views expressed here are the author’s own.