Sacramento, CA – Small, non-farm businesses in 51 North Dakota counties and neighboring counties in Minnesota, Montana and South Dakota are now eligible to apply for low-interest disaster loans from the U. S. Small Business Administration (SBA.) “These loans offset economic losses because of reduced revenues caused by the combined effects of excessive snow, frosts, freezes, rain, flooding, high winds, hail, lightning, tornadoes, periods of dry weather, drought, weather-related insects and diseases that occurred in the following primary North Dakota counties beginning January 1, 2010,” announced Alfred E. Judd, Director of SBA’s Disaster Field Operations Center West.
Primary North Dakota counties: Adams, Benson, Bottineau, Burke, Cass, Cavalier, Dickey, Divide, Dunn, Eddy, Emmons, Grand Forks, Grant, La Moure, McHenry, Mountrail, Nelson, Pembina, Pierce, Ramsey, Ransom, Renville, Richland, Rolette, Sargent, Towner, Traill, Walsh, Ward and Williams;
Neighboring North Dakota counties: Barnes, Billings, Bowman, Burleigh, Foster, Griggs, Hettinger, Kidder, Logan, McIntosh, McKenzie, McLean, Mercer, Morton, Sheridan, Sioux, Slope, Stark, Steele, Stutsman and Wells;
Neighboring Minnesota counties: Clay, Kittson, Marshall, Norman, Polk, Traverse and Wilkin;
Neighboring Montana counties: Richland, Roosevelt and Sheridan;
Neighboring South Dakota counties: Brown, Campbell, Corson, Harding, Marshall, McPherson, Perkins and Roberts.
“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster,” Judd said.
Small, non-farm businesses, small agricultural cooperatives and most private, non-profit organizations of any size may qualify for Economic Injury Disaster Loans (EIDLs) of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.
“Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4% for businesses and 3% for private, non-profit organizations, a maximum term of 30 years, and are available to small businesses and most private, non-profits without the financial ability to offset the adverse impact without hardship,” Judd said.
By law, SBA makes EIDLs available when the U. S. Secretary of Agriculture designates an agricultural disaster. Secretary Tom Vilsack declared this disaster at the request of Governor John Hoeven.
Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency (FSA) about the U. S. Department of Agriculture (USDA) assistance made available by the Secretary’s declaration. However, in drought disasters nurseries are eligible for SBA disaster assistance.
Information and application forms are available from SBA’s Customer Service Center by calling (800) 659 2955, emailing disastercustomerservice@sba.gov, or visiting SBA’s Web site at http://www.sba.gov/category/navigation-structure/loans-grants/small-business-loans/disaster-loans. Hearing impaired individuals may call (800) 877 8339. Applicants may also apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela.
The deadline to apply for these loans is August 29, 2011.
For more information, visit SBA’s Web site at
http://www.sba.gov/category/navigation-structure/loans-grants/small-business-loans/disaster-loans
SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841
