SBA

SBA's disaster-loan workshop in Cortez to be closed today

Oct. 5, 2000

Cortez Journal

The U.S. Small Business Administration is closing the SBA’s disaster-loan workshop at the Cortez Cultural Center by 6 p.m. today.

The workshop is available to small businesses hurt by the wildfires that occurred on July 20 through Aug. 14 in Montezuma County and contiguous counties.

Two businesses in Mancos received the first Economic Injury Disaster Loan checks on Tuesday.

Businesses may borrow up to $1.5 million from the SBA.

The Economic Injury Disaster Loan is a working-capital loan that can help a business meet installments on long-term debt, accounts payable, and overhead expenses that would have been met had the disaster not occurred.

The loan program is designed for those businesses with substantial disaster-related needs and will supplement monies the business owner can provide from other sources. Interest rates are as low as 4 percent, with payments for up to 30 years.

Businesses can return their disaster-loan applications to the SBA at the loan workshop through today.

After Thursday applications can be mailed to: U.S. Small Business Administration, 4400 Amon Carter Blvd., Ft. Worth, Texas 76155. Applications must be received by the June 14, 2001 deadline.

Applicants with questions about their SBA loan applications may contact SBA at 1-817-684-5600 or toll free 1-800-366-6303 or TDD 817-267-4688, for the hearing-impaired.

Information is also available on the SBA web site at www.sba.gov/DISASTER