DETROIT – The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes that May 12 is the filing deadline for federal economic injury disaster loans in Michigan as a result of frost and freezes between April 1 and June 19, 2013.
The loans are available in the following counties: Alger, Allegan, Antrim, Barry Benzie, Berrien, Cass, Charlevoix, Chippewa, Clinton, Crawford, Eaton, Genesee, Grand Traverse, Gratiot, Huron, Ingham, Ionia, Jackson, Kalamazoo, Kalkaska, Kent, Lake, Leelanau, Lenawee, Livingston, Luce, Mackinac, Manistee, Mason, Missaukee, Monroe, Montcalm, Oakland, Otsego, Saint Joseph, Sanilac, Schoolcraft, Shiawassee, Tuscola, Van Buren, Washtenaw, Wayne and Wexford.
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. With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, or ranchers.
The loans are for working capital and can be up to $2 million with interest rates of 4 percent for eligible small businesses and 2.875 percent for non-profit organizations, and terms up to 30 years.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoanSBA.Gov
