SBA disaster assistance available in Ohio

Small businesses in Ohio that suffered storm damage from February 2 through July 31, 2011 have until May 7 to file for Small Business Administration (SBA) federal economic disaster loans.

Matt Young, Public Affairs Specialist in the Disaster Assistance office in Atlanta says the disaster loans are a result of Secretary Vilsack issuing a disaster declaration.

“And small business or small agricultural cooperative, maybe small businesses that might be engaged in aquaculture and most private, non-profit organizations of all sizes are eligible to apply for these low interest loans being offered through the Small Business Administration’s Disaster Assistance office,” said Young.

Young says the low interest loans are available in all Ohio counties, EXCEPT Williams County.

“These loans can go up to $2 million with a four percent interest rate for eligible small businesses and then three percent interest rate for the non-profit organizations,” Young said.

Loan applications are available on line or by calling the SBA’s Customer Service Center at 1-800-659-2955.

Audio: Matt Young, Small Business Administration (5:00 MP3)

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