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Keyword: aid

The U.S. Small Business Administration has made Economic Injury Disaster Loans available to certain small businesses affected by rain and flash flooding that began July 21, 2018.

This economic aid is available to small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations in Baltimore County and several other Maryland counties.

The deadline to submit completed applications is November 20, 2019.

More Information from SBA

The following is text from the SBA's news release:

“These counties are eligible because they are contiguous to one or more primary counties in Pennsylvania. The Small Business Administration recognizes that disasters do not usually stop at county or state lines. For that reason, counties adjacent to primary counties named in the declaration are included,” 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 non farm-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 2.5 percent for private nonprofit organizations of all sizes and 3.61 percent for small businesses, 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.


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 www.sba.gov.

Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
 

Baltimore County needs information from victims of the Memorial Day weekend flooding in order to seek federal aid, including low-interest disaster loans.

Federal aid is available only after disaster-stricken jurisdictions document damages and meet certain loss thresholds. Baltimore County's Office of Homeland Security and Emergency Management is beginning this documentation process for the Memorial Day storm.

Emergency Management officials need information from homeowners, renters and businesses who suffered uninsured or grossly under-insured damage to buildings, land, personal property or business inventories. Such victims of the recent flooding should contact emergencymanagement@baltimorecountymd.gov.

The  deadline for providing information to Emergency Management officials is Friday, June 29, 2018.

Storm victims should provide:

  • Location of the affected properties
  • Type of loss
  • Value of property affected
  • Estimated losses and the extent to which they were covered by insurance
  • Contact information

The Documentation Process

Storm victims should note that, in providing this information, they are not applying for aid.

Rather, they are assisting Emergency Management officials with the documentation needed for Baltimore County to qualify for federal aid. Storm victims' information will be provided to the U.S. Small Business Administration, which will work with the Maryland Emergency Management Agency (MEMA) and Baltimore County Emergency Management to determine if the losses are significant enough to qualify for the Disaster Loan Program.

The SBA offers low-interest disaster loans to business of all sizes, private and non-profit organizations, homeowners and renters. If the SBA approves Baltimore County for disaster aid, loans may be used to repair or replace real estate, personal property, machinery, equipment, inventory and business assets damaged or destroyed in a declared disaster.

 
 
Revised June 27, 2017