{"id":4524,"date":"2022-10-07T11:05:18","date_gmt":"2022-10-07T11:05:18","guid":{"rendered":"https:\/\/www.mysetaside.com\/news-and-events\/?p=4524"},"modified":"2022-10-07T11:05:20","modified_gmt":"2022-10-07T11:05:20","slug":"sba-economic-injury-disaster-loans-available-to-arkansas-small-businesses","status":"publish","type":"post","link":"https:\/\/www.mysetaside.com\/news-and-events\/sba-economic-injury-disaster-loans-available-to-arkansas-small-businesses\/","title":{"rendered":"SBA Economic Injury Disaster Loans Available to Arkansas Small Businesses"},"content":{"rendered":"\n
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\nFor economic losses because of reduced revenues caused by excessive heat and drought.\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/a>\n\n\n\n
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\nArkansas District Office<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n

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\nSBA Economic Injury Disaster Loans Available to Arkansas Small Businesses<\/h1>\n<\/td>\n<\/tr>\n

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\nSmall nonfarm businesses in 75 Arkansas counties and neighboring parishes in Louisiana and counties in Mississippi, Missouri, Oklahoma, Tennessee and Texas are now eligible to apply for low\u2011interest federal disaster loans from the U.S. Small Business Administration,\n announced Director Tanya N. Garfield of SBA\u2019s Disaster Field Operations Center-West.<\/p>\n

\nThese loans offset economic losses because of reduced revenues caused by excessive heat and drought in the following primary counties that began on May 30, 2022.<\/strong><\/p>\n

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\nPrimary Arkansas counties:<\/strong> Arkansas, Benton, Boone, Carroll, Chicot, Clay, Cleburne, Cleveland, Columbia, Conway, Craighead, Crawford, Crittenden, Cross, Dallas, Desha, Faulkner, Franklin, Fulton, Garland, Grant, Hot Spring, Howard, Independence,\n Izard, Jackson, Jefferson, Johnson, Lafayette, Lawrence, Logan, Lonoke, Madison, Miller, Newton, Ouachita, Perry, Pike, Poinsett, Pope, Prairie, Pulaski, Randolph, Saint Francis, Saline, Scott, Sebastian, Sharp, Stone, Union, Washington, White, Woodruff and\n Yell;<\/p>\n

\nNeighboring Arkansas counties:<\/strong> Ashley, Baxter, Bradley, Calhoun, Clark, Drew, Greene, Hempstead, Lee, Lincoln, Little River, Marion, Mississippi, Monroe, Montgomery, Nevada, Phillips, Polk, Searcy, Sevier and Van Buren;<\/p>\n

\nNeighboring Louisiana parishes: <\/strong>Bossier, Caddo, Claiborne, East Carroll, Morehouse, Union, Webster and West Carroll;<\/p>\n

\nNeighboring Mississippi counties: <\/strong>Bolivar, Coahoma, DeSoto, Issaquena, Tunica and Washington;<\/p>\n

\nNeighboring Missouri counties:<\/strong> Barry, Butler, Dunklin, Howell, McDonald, Oregon, Ozark, Ripley, Stone and Taney;<\/p>\n

\nNeighboring Oklahoma counties:<\/strong> Adair, Delaware, Le Flore and Sequoyah;<\/p>\n

\nNeighboring Tennessee counties:<\/strong> Shelby and Tipton;<\/p>\n

\nNeighboring Texas counties: <\/strong>Bowie and Cass.<\/p>\n

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\n\u201cSBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster,\u201d Garfield said.<\/p>\n

\nSmall 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\n operating expenses which could have been met had the disaster not occurred.<\/p>\n

\n\u201cEligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 2.935 percent for businesses and 1.875 percent for private nonprofit organizations, a maximum term\n of 30 years and are available to small businesses and most private nonprofits without the financial ability to offset the adverse impact without hardship,\u201d Garfield said.<\/p>\n

\nBy law, SBA makes Economic Injury Disaster Loans available when the U.S. Secretary of Agriculture designates an agricultural disaster. The Secretary declared this disaster on Sept. 13, 2022.<\/p>\n

\nBusinesses 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\u2019s declaration.\n However, nurseries are eligible for SBA disaster assistance in drought disasters.<\/p>\n

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\nThe deadline to apply for economic injury is May 15, 2023.<\/strong><\/p>\n

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\nHow to Apply<\/h2>\n

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\nApplicants may apply online, receive additional disaster assistance information and download applications at\n\nhttps:\/\/disasterloanassistance.sba.gov\/<\/a>. Applicants may also call SBA\u2019s Customer Service Center at (800) 659-2955 or email\n\ndisastercustomerservice@sba.gov<\/a> for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed\n to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.<\/p>\n

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\nAbout the U.S. Small Business Administration<\/strong><\/p>\n

\nThe U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners\n with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn\n more, visit www.sba.gov<\/a>.<\/p>\n

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\nNeed FREE assistance with your business? <\/strong><\/strong><\/em><\/p>\n

\nPlease reach out to one of our local Resource\n Partners.<\/a><\/strong><\/strong><\/em><\/p>\n

\nFor further assistance, please contact Arkansas_DO@sba.gov<\/a><\/strong><\/p>\n

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\nTo see all upcoming webinars, please visit: \nwww.sba.gov\/ar<\/a><\/strong><\/p>\n

\nSign up for email updates from SBA a<\/strong>t \nSBA Updates<\/a>. <\/strong><\/a> <\/span><\/p>\n

\nFollow us on Twitter\n\n@SBA_Arkansas<\/a><\/span><\/strong><\/p>\n

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\nAll SBA programs and services are extended to the public on a nondiscriminatory basis.<\/em><\/p>\n

\nThe information contained in this publication does not constitute an official endorsement or approval by the U.S. Small Business Administration.<\/em><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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\nFor economic losses because of reduced revenues caused by excessive heat and drought.\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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\nArkansas District Office<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n

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\nSBA Economic Injury Disaster Loans Available to Arkansas Small Businesses<\/h1>\n<\/td>\n<\/tr>\n

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