Deadline Approaching in Tennessee for SBA Working Capital Loans
ATLANTA - The U.S. Small Business Administration is reminding small businesses, small
agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit
organizations that June 26 is the filing deadline for federal economic injury disaster loans in
Tennessee as a result of the drought that began on Oct. 18, 2016.
This disaster declaration includes the following counties: Anderson, Bledsoe, Cumberland,
Fentress, Knox, Loudon, McMinn, Meigs, Morgan, Putnam, Rhea, Roane, Van Buren and White
in Tennessee.
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. Nurseries are eligible to apply for economic
injury disaster loans for losses caused by drought conditions.
The loans are for working capital and can be up to $2 million with interest rates of 4 percent for
eligible small businesses and 2.625 percent for nonprofit organizations, and terms up to
30 years.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure
website at https://disasterloan.sba.gov/ela.
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 applications can be downloaded
from the SBA’s website at www.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.
Completed loan applications must be returned to SBA no later than June 26, 2017.
