SBA Encourages Loan Applications

All of Georgia is now eligible to apply for Small Business Administration (SBA) direct disaster loans up to $2.0 million at rates of 3.75% for terms up to 30 years. Economic injury loans under their disaster program typically cover lost revenues as a result of the disaster.

The SBA is aggressively pushing these loans and strongly encouraging all eligible business to apply online. SBA anticipates a two-three-week approval period by loan officers. Loans under $25,000 will not require collateral. Please note, these types of businesses are specifically restricted from applying: agricultural enterprises, religious organizations, and gambling, every other small business type should be eligible. Click here to visit the application website.

Additional information can be found:

1. Online: https://disasterloan.sba.gov/ela
2. Call SBA’s Customer Service Center at (800) 659-2955
3. Email disastercustomerservice@sba.gov