fbpx

Tag: Economic Injury Disaster Loan

  • Economic Injury Disaster Loan (EIDL) Drought Webinar

    Economic Injury Disaster Loan (EIDL) Drought Webinar

     

     

     

     

     

     

     

     

     

     

    July 24, 2020 • Online • Free

    Small nonfarm businesses in the following counties are now eligible to apply for low-interest federal disaster loans from the U.S. Small Business Administration. These loans offset economic losses because of reduced revenues caused by drought that occurred in the following primary counties in Colorado, announced Director Tanya N. Garfield of SBA’s Disaster Field Operations Center-West. Including; Arapahoe, Elbert, Kiowa, Kit Carson and Lincoln counties.

    Join the East Colorado SBDC and Burl Kelton with the SBA for this informative webinar on the EIDL Drought Loan process.

    “SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disasters and businesses directly impacted by the disasters,” Garfield said. Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disasters not occurred. “Eligibility for these loans is based on the financial impact of the disasters only and not on any actual property damage. These loans have an interest rate as low as 3 percent for businesses and 2.75 percent for private nonprofit organizations, a maximum term of 30 years, and are available to small businesses and most private nonprofits without the financial ability to offset the adverse impact without hardship,” Garfield said. By law, SBA makes economic injury available when the U.S. Secretary of Agriculture designates an agricultural disaster. The Secretary declared the declarations CO 16498 on June 11, 2020, and CO 16503 on June 23, 2020. Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration. However, in drought disasters nurseries are eligible for SBA disaster assistance.

    Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email for more information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

    Presented By:

    Burl Kelton, Public Information Officer
    U. S. Small Business Administration Office of Disaster Assistance

    Burl began his career with the U. S. Small Business Administration’s Office of Disaster Assistance in 2005 for Hurricane Katrina as a loan officer at the Sacramento, California Field Office Center-West. That office is responsible for responding to declared disasters in Federal Regions VI–X, including 23 states stretching from the Mississippi river west to Guam in the Pacific. Following his tenure as a loan officer, Burl transferred to the FOC-West Public Information Office as a Public Information Officer (PIO). In this role, he provides public
    communications, congressional relations and survivor customer service in multiple county areas, at Disaster Recovery Centers, SBA Disaster Loan Outreach Centers and other on-site locations.

    For over ten years, Burl has responded to numerous floods, hurricanes, tornadoes and wildfires that have destroyed hundreds of thousands of homes and businesses including: Hurricanes Ike, Irene, Sandy and Harvey, wildfires in California, floods and tornadoes in the Midwest. His COVID19 responsibilities include FEMA Region VIII where he is the information single point of contact for the states of Colorado, North Dakota, South Dakota, Wyoming and Utah for the COVID19 Economic Injury Disaster Loan program to applicants, media, Congressional members, SBA District Offices and resource partners.

    Before joining SBA, Burl spent 22 years with two Bell System telephone companies in Sales and Marketing, Customer Bill Processing, IT Systems Special Projects; and corporate Minority and Women’s Business Procurement for five departments. He was a California public school substitute teacher and has provided management and IT consulting to small businesses and Private non-profit organizations.

    CLICK HERE TO REGISTER

    The registration form asks pertinent information on your business and will take 2-3 minutes to complete. Since we are a federally funded program and offer this conference at a reduced rate, we ask these business and demographic questions so we can continue to offer you this conference at a subsidized cost. If you have any issues with registering or receiving a confirmation code, please email or call 970-351-4274.

    SPREAD THE NEWS

    COMMENT, Like, Follow & SHARE @I70Scout

    CURRENT EDITION

    WEATHER & TRAFFIC    PUZZLES    RECENT NEWS    ADVERTISE WITH US

     

  • Gov. Polis Secures Federal Loan Assistance for Colorado’s Small Businesses

    DENVER – Colorado small businesses impacted by COVID-19 can seek individual small business loans up to $2M as part of the Small Business Administration’s Economic Injury Disaster Loan program. Small businesses throughout all 64 counties may seek SBA Economic Injury Disaster Loans. Governor Jared Polis announced that Colorado’s application for federal disaster area designation has been approved.  

    “The economic impact of COVID-19 has been felt across our state. We are committed to protecting public health and safety and will continue fighting to ensure the pain that Colorado’s small businesses are feeling is limited. This critical designation allows small businesses in all 64 Colorado counties to seek federal recovery loans that can help them through this challenging time. I thank the Colorado federal delegation for their efforts to help unlock this assistance,” said Governor Polis. 

    The SBA Disaster assistance provides low-interest federal loans for working capital to Colorado small businesses that have realized economic injury from COVID-19. Funding was appropriated through the US congressional Coronavirus Preparedness and Response Supplemental Appropriations Act. 

    “Colorado’s Office of Economic Development and International Trade is committed to helping our small businesses access these vital funds,” said Executive Director Betsy Markey. “Eligibility information, loan application links and emerging economic recovery resources can all be found at choosecolorado.com.”

    “Small businesses are the fabric of our economy and their success is dependent on the ability to freely market products and services to communities across the state and world,” said SBA Regional Administrator Dan Nordberg. “Local small businesses are bearing the brunt of that impact and facing a severe decline in customer traffic.  SBA’s top priority is to assist businesses adversely impacted by the Coronavirus (COVID-19) and our Economic Injury Disaster Loans can be the working capital lifelines they need to weather this difficult time.”

    Small businesses, private non-profit organizations, small agricultural cooperatives and small aquaculture enterprises impacted by COVID-19 can seek federal loans to pay key needs such as fixed debts, payroll, and accounts payable.

    About Colorado Office of Economic Development and International Trade

    The Colorado Office of Economic Development and International Trade (OEDIT) works with partners to create a positive business climate that encourages dynamic economic development and sustainable job growth. Under the leadership of Governor Jared Polis, we strive to advance the State’s economy through financial and technical assistance that fosters local and regional economic development activities throughout Colorado. OEDIT offers a host of programs and services tailored to support business development at every level including business retention services, business relocation services, and business funding and incentives. Our office includes the Global Business Development division; Colorado Tourism Office; Colorado Outdoor Recreation Industry Office; Colorado Creative Industries; Business Financing & Incentives division; the Colorado Small Business Development Network; Colorado Office of Film, TV & Media; the Minority Business Office; and the Colorado Innovation Network. Learn more at www.choosecolorado.com.

     

    SPREAD THE NEWS

    COMMENT, Like, Follow & SHARE @I70Scout

    CURRENT EDITION

    WEATHER & TRAFFIC    PUZZLES    RECENT NEWS    ADVERTISE WITH US