SBA Working Capital Loans Available in CT for Tropical Storm Isaias and High Winds

SBA Working Capital Loans Available in CT for Tropical Storm Isaias and High Winds

The U.S. Small Business Administration (SBA) issued the attached press release to the media on 12/7/2020. SBA announced that Economic Injury Disaster Loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations in Connecticut as a result of Tropical Storm Isaias and high winds on Aug. 4-5, 2020.

The loans are available in the following counties: Fairfield, Hartford, Litchfield, Middlesex, New Haven, New London, Tolland and Windham in Connecticut.

IMPORTANT!

  • Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoanAssistance.sba.gov and should apply under SBA declaration #16794, 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 DisasterLoanAssistance.sba.gov . Loan applications 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 Aug. 2, 2021.

Full announcement HERE


CONNECTICUT Declaration 16794
(Disaster: CT-00051)
Incident: TROPICAL STORM ISAIAS AND HIGH WINDS
occurring: August 4-5, 2020
Application Filing Deadline: August 02, 2021
Find details HERE

SBA Disaster Assistance Loans Available to CT Small Businesses

SBA Disaster Assistance Loans Available to CT Small Businesses

The federal Small Business Administration (SBA) has declared Connecticut a disaster area. The SBA provides low-interest loans to help businesses recover from declared disasters. Has your business suffered substantial economic injury as a result of the Coronavirus (COVID-19)?

Read the full press release: ENG | ESP

Who qualifies?

Small businesses, private non-profit organizations of any size, small agricultural cooperatives and small aquaculture enterprises that have been financially impacted as a direct result of the Coronavirus (COVID-19) since Jan. 31, 2020, may qualify.

What can the funds be used for?

The SBA’s disaster loans can help you pay for just about anything you need to afford after a disaster. With an Economic Injury Disaster Loan, you can use the funds to meet your financial obligations and pay for operating expenses that could’ve been met if the disaster hadn’t occurred.

How long does it take to get approved?

Receiving an SBA disaster loan is a 3-step process: Application, Property/Loss Verification & Loan Processing Decision, Loan Closing & Disbursement of Funds. The SBA states that the first and second step takes an average of four weeks. Step 3 takes around five days for borrowers to receive funds.

 

For more information, visit https://disasterloan.sba.gov/ela

For assistance with your loan application, contact the SBA Connecticut District Office, 860-240-4700, Connecticut_DO@sba.gov or Connecticut Small Business Development Center, 877-723-2828.

 

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