SBA Reminds Small Businesses to Apply for Disaster Relief
WINSTON, Miss.(WCBI)-When a disaster happens, small businesses often feel the brunt of the devastation.
But there is relief available.
The U.S. Small Business Administration says small businesses, and private non-profit groups have until May 31st to apply for a working capital disaster loan.
Businesses in Winston, Attala, and Neshoba counties in our viewing area all qualify.
The loan amount can be up to $2 million. Interest rates vary, with terms up to 30 years.
The working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.
The loans are not intended to replace lost sales or profits.