Today, Congressman Patrick McHenry announced that the application deadline for federal economic injury disaster loans offered by the U.S. Small Business Administration (SBA) is August 10th. 

Farm-related and nonfarm-related small businesses and small agricultural cooperatives in Avery and Mitchell counties are eligible for assistance.  Local small businesses who experienced significant financial losses resulting from the drought of 2008 may qualify for loans up to $2 million. 

Economic Injury Disaster Loans are available at a 4 percent interest rate with loan terms up to 30 years.  The SBA determines eligibility based on the size of the business, type of activity and its financial resources.  Under this disaster declaration, SBA cannot provide loans to agricultural producers.

Disaster victims should contact the SBA’s Customer Service Center by calling 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) or by emailing disastercustomerservice@sba.gov.  Loan applications can be downloaded from the SBA’s website www.sba.gov/services/disasterassistance.  Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925, Kingsport Road, Fort Worth, TX 76155.  Victims may also visit SBA’s secure website at https://disasterloan.sba.gov/ela/ to apply.

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