The U.S. Small Business Administration is offering low-interest federal disaster loans to small businesses economically impacted by the Beaver Creek and Elk Complex fires that burned in south-central Idaho last month, SBA Acting Administrator Jeanne Hulit announced Wednesday.
Acting under its own authority, the SBA declared a disaster in the affected areas in response to a request received from Idaho Gov. Butch Otter on Sept. 23.
“We will be swift in our efforts to help these small businesses
recover from the financial impacts of this disaster.”
The disaster declaration makes SBA disaster assistance available in Blaine County and the neighboring counties of Bingham, Butte, Camas, Cassia, Custer, Elmore, Lincoln, Minidoka and Power.
“We will be swift in our efforts to help these small businesses recover from the financial impacts of this disaster,” Hulit said.
Rodney Grzadzieleski, SBA’s Boise district director, said SBA customer service representatives are at several SBA Disaster Loan Outreach Centers to help small businesses impacted by the fires.
“SBA representatives will answer questions about SBA’s Economic Injury Disaster Loan program, explain the application process, and help each business owner complete their application,” he said.
The centers will be open on the days and times indicated here. No appointment is necessary.
- Blaine County SBA Disaster Loan Outreach Center: Hailey City Hall, 115 Main St., Suite H, Hailey. The office will be open Mondays through Fridays from 9 a.m. to 5 p.m. until Thursday, Oct. 10.
- Elmore County SBA Disaster Loan Outreach Center: Idaho Department of Labor, 1150 American Legion Blvd., Mountain Home. The office will be open Mondays through Thursdays from 9 a.m. to 5 p.m. and Fridays from 9 a.m. to noon. The office stay open until Thursday, Oct. 10.
Grzadzieleski said small businesses and most private, nonprofit organizations of any size could qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses that could have been met had the disaster not occurred.
“These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact,” Grzadzieleski said.
Eligibility is based on the financial impact of the disaster only and not on any actual property damage. The loans have an interest rate of 4 percent for small businesses and 2.875 percent for private, nonprofit organizations with terms up to 30 years, and are restricted to small businesses without the financial ability to offset the adverse impact without hardship, the SBA said.
Applicants can apply online using SBA’s secure website at https://disasterloan.sba.gov/ela. Disaster loan information and application forms are also available from by calling (800) 659-2955 or e-mailing email@example.com<mailto:firstname.lastname@example.org>.
The deadline to return economic injury applications is June 25, 2014.