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Division of Small Business

SBA Economic Injury Disaster Loans Available for Excessive Rain Following Secretary of Agriculture Disaster Declaration in Delaware


The Small Business Administration issued the following press release

ATLANTA – The U.S. Small Business Administration announced today that Economic Injury Disaster
Loans are available to small businesses, small agricultural cooperatives, small businesses engaged in
aquaculture, and private nonprofit organizations located in Kent, New Castle and Sussex counties in
Delaware as a result of excessive rain that occurred from Aug. 1 to Sept. 1, 2020.

“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages
and losses to crops, the Small Business Administration issues a declaration to eligible entities, affected
by the same disaster,” said Kem Fleming, director of SBA’s Field Operations Center East.

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 and ranchers.

The loan amount can be up to $2 million with interest rates of 3 percent for small businesses and 2.75
percent for private nonprofit organizations of all sizes, with terms up to 30 years. The SBA determines
eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts
and terms are set by the SBA and are based on each applicant’s financial condition. These working
capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have
been paid had the disaster not occurred.

The loans are not intended to replace lost sales or profits.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at
DisasterLoan.sba.gov and should apply under the SBA declaration # 16874, not for the COVID-19 incident.
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 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.

Submit completed loan applications to SBA no later than Oct. 12, 2021.

About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only goto resource and voice for small businesses backed by the strength of the federal government, the SBA empowers
entrepreneurs and small business owners with the resources and support they need to start, grow or expand their
businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov

 

 



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