(HARTFORD, CT) – Governor Dannel P. Malloy announced today that his request for an Economic Injury Disaster Loan Declaration from the Small Business Administration (SBA) for businesses and non-profits impacted by the October 29, 2011 storm and power outages has been approved. The SBA declaration covers Hartford County and the adjacent counties of Litchfield, Middlesex, New Haven, New London and Tolland.
"l would like to thank the SBA for granting my request," said Governor Malloy. "I encourage all business owners and non-profits in the eligible counties to take advantage of these loans and apply as soon as possible to determine what assistance might be available to them."
The SBA offers Economic Injury Disaster Loans (EIDLs) to help businesses overcome economic losses and meet working capital needs caused by the disaster . The rates on these loans are 3 percent for non-profit organizations and 4 percent 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. Eligible entities may qualify for loans up to $2 million.
Applications and program information are available by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing), or by sending an email to firstname.lastname@example.org. Business loan applications can also be downloaded from www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
Those affected by the disaster may also apply for disaster loans electronically from the SBA’s website at https://disasterloan.sba.gov/ela/