Small business owners in New York, New Jersey, Connecticut, Massachusetts and Pennsylvania have until June 6 to apply for a Small Business Administration (SBA) Economic Impact Disaster Loan related to Hurricane Ida.
Hurricane Ida devastated the northeast coast for three days, from September 1 to 3, 2021.
The June 6 deadline is for completed applications. In other words, complete with all necessary papers. For more information, visit the SBA website for EIDLs or call 800-659-2955.
EIDL loans to help Hurricane Ida
Here’s some more information on how to apply and how much aid is available for the EIDL Small Business Loan Program affected by Hurricane Ida.
Who can apply?
Hurricane Ida’s EIDL clearance area is huge. It includes 15 counties in New York, Pike County in Pennsylvania, Berkshire County in Massachusetts, Fairfield and Litchfield counties in Connecticut, and three counties (Bergen, Passaic, and Sussex) in New Jersey.
How much is available?
The Economic Impact Disaster Loan (EIDL) is a working capital loan from the SBA. Small businesses, small agricultural cooperatives (including aquaculture businesses), and non-profit organizations can apply. Nonprofit organizations may include food kitchens, homeless shelters, museums, libraries, community centers, schools, and colleges.
Loans of up to $2 million are available at 2.85% with maturities of up to 30 years. For non-profits, the interest is 2%.
EIDL hurricane Ida money so far
In New York, the SBA has awarded $212 million for Hurricane Ida EIDLs. In New Jersey, the SBA has provided $248 million for Hurricane Ida loans.
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This post Deadline approaches for small businesses and nonprofits in NY, NJ, MA, PA, and CT to get EIDLs from Hurricane Ida was original published at “https://smallbiztrends.com/2022/05/deadline-approaching-eidl-loans-hurricane-ida.html”