A nonprofit publication of the Kentucky Center for Public Service Journalism

Filing deadline approaching for Small Business Administration disaster loans for 2019 flooding

By Tom Latek
Kentucky Today

While the U.S. Small Business Administration recently approved low-interest loans to businesses impacted by the coronavirus, an earlier approval will be expiring in less than a month.

The SBA is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations that April 29 is the filing deadline for federal economic injury disaster loans in Kentucky as a result of excessive rain and flooding during the first half of 2019.

The loans are available in the following counties: Boone, Carroll, Daviess, Fulton, Gallatin, Henderson, Jefferson, Meade, Oldham, Trimble, and Union.

“These counties are eligible because they are contiguous to one or more primary counties in Indiana and Tennessee,” said Kem Fleming, director of SBA’s Field Operations Center East in Atlanta. “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.”

Under both the 2019 and more recent declarations, 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, or ranchers.

The loans are for working capital and can be up to $2 million with interest rates of 4 percent for eligible small businesses and 2.75 percent for nonprofit organizations, and terms up to 30 years.

Applicants may apply online using the Electronic Loan Application 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 the SBA’s website at sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

While applications for the 2019 declarations have an April 29 deadline, no deadline has been announced yet for the coronavirus related aid.

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