Home Small Business Deadline Nears for Salt River Pima-Maricopa Indian Group Small Companies to Apply for SBA Catastrophe Loans

Deadline Nears for Salt River Pima-Maricopa Indian Group Small Companies to Apply for SBA Catastrophe Loans

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Deadline Nears for Salt River Pima-Maricopa Indian Group Small Companies to Apply for SBA Catastrophe Loans

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Small companies within the Salt River Pima-Maricopa Indian Group are urged to use for federal catastrophe loans by the upcoming deadline of June 2, 2023. These loans can be found to supply financial reduction to companies affected by the extreme storms that occurred on July 17-18, 2022. Tanya N. Garfield, Director of the U.S. Small Enterprise Administration’s (SBA) Catastrophe Area Operations Middle-West, introduced the reminder in a latest press launch.

The Financial Damage Catastrophe Loans (EIDL) program gives as much as $2 million in monetary help to eligible small nonfarm companies, small agricultural cooperatives, small companies engaged in aquaculture, and most non-public nonprofit organizations of any dimension. The aim of those loans is to assist cowl working capital wants which have arisen because of the affect of the storms. Garfield emphasised that companies can apply for financial damage help no matter whether or not they skilled any property injury.

Eligible companies within the Salt River Pima-Maricopa Indian Group and Maricopa County in Arizona can profit from these low-interest federal catastrophe loans. The rates of interest for the loans are set at 2.935% for companies and 1.875% for personal nonprofit organizations, with reimbursement phrases of as much as 30 years. The SBA will decide the mortgage quantities and phrases based mostly on every applicant’s monetary situation.

This chance for monetary help is essential for small companies striving to recuperate from the financial affect of final yr’s storms. By assembly their working capital wants, these companies can proceed to contribute to the native economic system and group. With the June 2 deadline quick approaching, small enterprise house owners within the Salt River Pima-Maricopa Indian Group and Maricopa County are inspired to behave swiftly and apply for the SBA catastrophe loans.

Small enterprise house owners are inspired to use on-line for the EIDL program, entry further catastrophe help data, and obtain functions at https://disasterloanassistance.sba.gov/.

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