The U.S. Small Business Administration has announced that as a result of this year’s frost and freeze from Feb. 14 through May 4, federal economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations located in Hillsborough and Cheshire counties
The Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of the frost and freeze.
The loan amount can be up to $2 million with interest rates of 2.625 percent for private nonprofit organizations of all sizes and 4 percent for small businesses, with terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources.
Applicants may apply online using the Electronic Loan Application via SBA’s secure website at https://disasterloan.sba.gov/ela. Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 or by sending an email to disastercustomerservice@sba.gov.