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SBA briefs Harrison County on Economic Injury Disaster Loans available to flood-affected businesses
Summary
Shanita Tate of the U.S. Small Business Administration told Harrison County residents that EIDL loans up to $2,000,000 are available to small businesses and nonprofits affected by flooding, with long terms and a 12-month payment deferral option.
A representative of the U.S. Small Business Administration briefed the commission on economic injury disaster loans (EIDLs) available to local small businesses and nonprofit organizations affected by recent flooding.
Shanita Tate, a public affairs specialist, described loan parameters including up to $2,000,000 in assistance, low fixed interest rates, repayment terms up to 30 years and an initial 12-month period with no payments or interest. She emphasized applicants do not need to wait for insurance settlements to apply and provided an SBA contact and application options.
The commission thanked the SBA for outreach; staff agreed to share application materials with constituents.
Next steps: SBA materials to be distributed by county staff and posted for local businesses.
