Management & Operations

Deadline for small business loan extended

Posted on January 21, 2002

The deadline to file for The U.S. Small Business Administration's (SBA) Economic Injury Disaster Loans (EIDLs) was extended to April 22, 2002. The original deadline was today. "With this deadline extension, more small business owners can get the help they need to get back on their feet," said SBA Administrator Hector V. Barreto. "America's economic well-being relies on the health of small business, and this program will contribute greatly to the economy's revival." The EIDLs are available to eligible small businesses that suffered substantial economic injury as a direct result of the September terrorist attacks or a federal action taken as a result of the attacks. EIDLs provide eligible small businesses with the working capital needed to pay ordinary and necessary operating expenses that they would have been able to pay had the disaster not occurred. Expenses include fixed debts, payroll, accounts payable and other bills. Small businesses may apply for a working capital loan of up to $1.5 million. The interest rate on the loans is 4%, with a maximum term of 30 years. The SBA determines the amount of economic injury, the term of each loan and the payment amount, based on the financial circumstances of each borrower. Businesses interested in applying for a loan can contact one of the four SBA disaster offices to obtain an application. Offices are located in New York, Georgia, Texas and California. Since the expanded EIDL program began on October 22, the SBA has approved $94 million in loans to small businesses nationwide. Since September 11, the SBA has made $233 million in loans in the disaster areas surrounding New York City and Virginia. For more on the EIDL, click on www.sba.gov/disaster.

View comments or post a comment on this story. (0 Comments)

More News

Gibson to lead west transit, rail practice for WSP | PB

His experience includes rail systems projects throughout the U.S. and internationally, including the implementation of systems and track work for a major light rail transit extension in St. Louis.

Profile: Susan Shaheen, Co-Director, Transportation Sustainability Research Center

Susan is an expert on the subject of carsharing. Today, we are using Lyft to travel from her office to the Downtown Berkeley BART station, where we will take the subway to have lunch in the Financial District of San Francisco.

COTA's Stitt announces retirement plans

During his tenure, he oversaw the transformation of public transit in Central Ohio, including a downtown circulator, an airport shuttle, and a comprehensive redesign of the entire bus network.

MARTA to add fresh produce kiosks at four rail stations

The markets provide a convenient shopping alternative for fresh, affordable, and locally grown produce.

U of Fla., FDOT, City partner to create ‘smart testbed’ for advanced technologies

This will be the first such program in Florida to involve a city, a university, and a state DOT. It will also involve industry partnerships to facilitate the development and operation of test bed.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close