Small business owners in New York, New Jersey, Connecticut, Massachusetts, and Pennsylvania have until June 6 to apply for a Small Business Administration (SBA) disaster impact loan related to Hurricane Ida .
Hurricane Ida struck the northeast coast for three days, from September 1 to 3, 2021.
The deadline for applications is June 6. In other words, complete with all the necessary documentation. For more information, visit the SBA website for EIDLs or call 800-659-2955.
EIDL Loans for Hurricane Ida Relief
Here’s more information on how to apply and how much relief money is available for the EIDL Small Business Loan Program affected by Hurricane Ida.
Who can apply?
The EIDL approval area for Hurricane Ida is wide. It includes 15 counties in New York, Pike County in Pennsylvania, Berkshire County in Massachusetts, Fairfield and Litchfield counties in Connecticut, and three counties (Bergen, Passaic, and Sussex) in New Jersey.
How much is available?
The Economic Impact Disaster Loan (EIDL) is a working capital loan from the SBA. Small businesses, small agricultural cooperatives (including aquaculture companies), and nonprofits can apply. Non-profit organizations may include food kitchens, homeless shelters, museums, libraries, community centers, schools, and universities.
Loans of up to $ 2 million are available, with an interest rate of 2.85% with terms of up to 30 years. For nonprofits, the interest rate is 2%.
EIDL Hurricane Ida Money so far
In New York, the SBA has administered $ 212 million for the EIDLs of Hurricane Ida. In New Jersey, the SBA has administered $ 248 million for Hurricane Ida loans.
For the latest news, follow us on Google News.