Management & Operations

Disaster loan assistance will aid motorcoach operators

Posted on October 22, 2001

The Small Business Administration (SBA) has widened eligibility criteria for Economic Injury Disaster Loans (EIDL) to small businesses around the country. Previously, only businesses located in communities declared disaster areas by the president were eligible to apply for SBA disaster loan assistance. The SBA will today publish regulations that authorize EIDL assistance across the country to eligible small businesses that have suffered substantial economic injury as a direct result of the September 11 attacks. If approved, the businesses will receive working capital needed to pay ordinary and necessary operating expenses that they would have been able to pay had the disaster not occurred. The application deadline is Jan. 21, 2002. For more about the loan program, click on www.sba.gov/news/current01/economicinjuryfactsheet.html.

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