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Connecticut Career Workers with Small Businesses Can Apply for Loans

Posted on December 10, 2008

Those who have a Connecticut career with a small business may soon get some help.

The State of Connecticut recently announced that the U.S. Small Business Administration is offering federal economic injury disaster loans to small businesses, small agricultural cooperatives and private, non-profit organizations that received damages as the result of abnormal storms last summer. Most of the storms from July 27 to Aug. 12, 2008, included high rainfall, high winds, hail, lightning and flooding.

“These loans will help Connecticut’s small businesses and non-profit organizations that were hurt financially by the wicked weather we had this summer,” Governor M. Jodi Rell said in a press release.

Farmers and ranchers are not eligible to apply for a loan. Those small businesses that are eligible may qualify for loans up to $2 million at a 4 percent interest rate for up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

Completed loan applications are due by July 13,2009. Loan applications are available at the SBA Web site, and once completed can be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport ROad, Fort Worth, TX, 76155.

Those interested in inquiring about a loan should contact the SBA Customer Service Center at (800) 659-2955 Monday through Friday from 8 a.m. to 9 p.m. and Saturday and Sunday from 9 a.m. to 9 p.m., or by e-mailing disastercustomerservice@sba.gov.

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