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 Georgia as a result of the freeze on April 17, 2018.
The loans are available in the following counties: Dawson, Fannin, Gilmer, Gordon, Habersham, Lumpkin, Murray, Pickens, Rabun, Towns, Union and White in Georgia.
“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 2.5 percent for private nonprofit organizations of all sizes and 3.58 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 email@example.com. Loan applications can be downloaded from Disasterloan.sba.gov. 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 March 4, 2019.
Senator David Perdue Discusses President Trump’s Economic Agenda On Bloomberg TV
“It’s high time we tell the rest of the world what’s important to American workers and American businesses”
WASHINGTON, D.C. – U.S. Senator David Perdue (R-GA) spoke with David Westin on Bloomberg TV’s Daybreak America about the positive impact President Trump’s agenda is having on our economy, American workers, and American businesses.
Accomplishing Job One: “We are already seeing growth. President Trump said job one was growing the economy. He focused on three things. First was the regulatory work. Last year, we reversed around 860 rules and regulations. Second was unleashing our energy potential. We opened up oil exploration in Alaska and addressed Waters of the U.S. and Clean Power Plan regulations. The third was tax. President Trump accomplished the three things he deemed important to grow the economy.”
Growing The Economy: “We have had two quarters of 3% growth and we’re about to have a third in my opinion. Now that we have tax in play we are going to see a continuation of this in 2018. The President has jumpstarted and grown this economy.”
Negotiating Fairer Agreements: “There are things that are problematic with NAFTA. They can be solved, and I think the President is focused on fixing those problems. We need a level playing field, and President Trump wants to have equal access to all of these markets.”
Fighting For American Interests: “President Trump is willing to take a risk to stand up for American interests. President Trump has made it clear that we know what’s important to the rest of the world because they’ve been telling us for 30 years. It’s high time we tell the rest of the world what’s important to American workers and American businesses.”
Recognizing Debt Crisis: “We’ve had four increases in the federal funds rate in the last 15 months. Even worse, over the last eight years during the Obama Administration when interest rates were fundamentally zero, they didn’t go long in our bond portfolio. The duration of most of our $20 trillion debt portfolio is under three years. So this is going to come rolling on our backs. If interest rates were at their 30-year average of about 5%, we’d be paying about $1 trillion a year in interest. That just isn’t going to happen on a $4 trillion budget. We’re in a crisis mode.”