Advertisement

April 24, 2014

SBA Economic Injury Disaster Loans Now Available in Michigan

The U.S. Small Business Administration (SBA) is offering federal economic injury disaster loans in eight Michigan counties that had excessive rain last August.

The loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in the following counties: Arenac, Bay, Genesee, Gladwin, Gratiot, Midland, Saginaw, Shiawassee and Tuscola.

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. 

The loan amount can be up to $2 million with interest rates of 3 percent for private, non-profit organizations of all sizes and 4 percent for small businesses, with 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. For more information, call the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing), or send an email to disastercustomerservice@sba.gov.

© 2014 Varnum LLP

About the Author

Partner

Aaron's practice is focused on commercial and environmental litigation in state and federal courts and Michigan Agriculture Law. On the commercial side, Aaron regularly represents clients in contract disputes, breach of warranty claims, UCC issues, shareholder disputes, and telecommunications matters.

616-336-6257

Boost: AJAX core statistics

Legal Disclaimer

You are responsible for reading, understanding and agreeing to the National Law Review's (NLR’s) and the National Law Forum LLC's  Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only. Any legal analysis, legislative updates or other content and links should not be construed as legal or professional advice or a substitute for such advice. No attorney-client or confidential relationship is formed by the transmission of information between you and the National Law Review website or any of the law firms, attorneys or other professionals or organizations who include content on the National Law Review website. If you require legal or professional advice, kindly contact an attorney or other suitable professional advisor.  

Some states have laws and ethical rules regarding solicitation and advertisement practices by attorneys and/or other professionals. The National Law