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  • SBA Working Capital Loans Available

    SBA Working Capital Loans Available in New Hampshire Following Secretary of Agriculture Disaster Declaration for Drought Beginning June 1 

    ATLANTA - The U.S. Small Business Administration announced today that Economic Injury Disaster Loans  are available to small businesses, small agricultural cooperatives, small businesses engaged in  aquaculture, and private nonprofit organizations in Cheshire, Coos, Grafton and Sullivan counties in New Hampshire as a result of drought that began on June 1, 2020.  

    “These counties are eligible because they are contiguous to one or more primary counties in Vermont. The Small Business Administration recognizes that disasters do not usually stop at county or state lines.  For that reason, counties adjacent to primary counties named in the declaration are included,” said Kem  Fleming, director of SBA’s Field Operations Center East. 

    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.  Except for aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers  and ranchers. Nurseries are eligible to apply for economic injury disaster loans for losses caused by  drought conditions

    The loan amount can be up to $2 million with interest rates of 3 percent for small businesses and 2.75 percent for private nonprofit organizations of all sizes, 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 SBA’s secure website at  DisasterLoan@sba.gov and should apply under SBA declaration # 16784, 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 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to  DisasterCustomerService@sba.gov. Loan application forms can be downloaded from 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 July 12, 2021.