Small Business Disaster Assistance
The SBA is offering low-interest loans to Connecticut small businesses affected by last October’s snowstorm
The U.S. Small Business Administration (SBA) has announced that low-interest disaster loans are available to Connecticut small businesses and most private nonprofit organizations affected by the major winter storm that occurred Oct. 29, 2011. The loans have been made available in response to a letter from Gov. Malloy requesting a disaster declaration by the SBA. The declaration covers Hartford County and the adjacent counties of Litchfield, Middlesex, New Haven, New London, and Tolland.
Eligible entities may qualify for loans up to $2 million to help meet working capital needs caused by the disaster. The rates on the loans are 3% for nonprofit organizations and 4% for businesses, with terms up to 30 years.
The SBA determines eligibility for the loans based on the size and type of business and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
How to Apply
Applications and program information are available by calling the SBA’s Customer Service Center at 800.659.2955 or by sending an email to firstname.lastname@example.org. Business loan applications can also be downloaded from sba.gov. Mail completed applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. Those affected by the disaster can also apply for loans here.
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