August 15, 2018  
 
Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Small Business News for Entrepreneurs

 

Small Business Finance News

 

SBA Disaster Loan Deadline Set

Written by Ken Gaebler
Published: 12/30/2009

The deadline for SBA disaster relief loans to small businesses is fast approaching.

The recession has been causing financial difficulty for many small business owners, making it easy to forget that some entrepreneurs have also been hit hard by natural disasters this year. It may be good news for small business owners with companies that experienced physical damage that the SBA has not forgotten them.

Entrepreneur Profits

The Small Business Administration is offering disaster loans of up to $2 million to organizations to repair damage to real estate, machinery, inventory and equipment. The loans come with interest rates as low as 4 percent.

Additionally, small businesses can apply for the Small Business Administration's economic injury disaster loan regardless of whether their business suffered any property damage; these funds will be awarded to small businesses to meet working capital needs caused by the disaster.

The SBA reminds SMB owners that the deadline to apply for loans for physical damage is January 25, 2010. SBA officials hope that the funds will factor into stabilizing employment and local economies by protecting jobs.

In the current economy, stabilizing jobs created by SMBs is more important than ever. The United States Department of Labor reports that the American unemployment rate is at 10 percent, a 26-year high.

Have Friends Who Might Like This Article?

Tweet via @gaeblerdotcom Share this on Twitter

Let them know on LinkedIn

Ready to Learn More? We Think You Might Like These Articles:

 


About Our Small Business News

Our small business news site is packed with the latest news for small business startups and entrepreneurs. Learn about small business management, financing, marketing & technology.

 

 

Additional Resources for Entrepreneurs

Help for Native American Entrepreneurs

Resources for Gay Entrepreneurs

Businesses for Sale

Online Entrepreneur Tools

Economics

Lists of Small Business Incubators

Lists of Angel Investors