Disaster Field Operations Center East

​​foce_com_ma_18039_23-590__sa__initial_2023_08_07.pdf
Disaster Field Operations Center East
Release Date: Aug. 7, 2023 Contact: Michael Lampton (404) 331-0333
[email protected]
Release Number: 23-590, MA 18039
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SBA Working Capital Loans Available in Massachusetts for
Secretary of Agriculture Disaster Declaration for Rain and Flooding
ATLANTA- The U.S. Small Business Administration (SBA) announced today that federal Economic injury
Disaster Loans (EIDLs) are available in Massachusetts for small businesses, small agricultural
cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations with
economic losses due to rain and flooding occurring on July 9-16.
The declaration includes the primary counties of Berkshire, Bristol, Franklin, Hampden, Hampshire,
Norfolk, and Worcester; and the contiguous counties of Middlesex, Plymouth and Suffolk in
Massachusetts; the contiguous counties of Hartford, Litchfield, Tolland and Windham in Connecticut;
Cheshire and Hillsborough in New Hampshire; Columbia, Dutchess, and Rensselaer in New York;
Bristol, Newport and Providence in Rhode Island; and Bennington and Windham in Vermont.
“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages
and losses to crops, the Small Business Administration issues a declaration to eligible entities, affected
by the same disaster,” said Kem Fleming, director of SBA’s Field Operations Center East.
Under this declaration, the SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible
farm-related and nonfarm-related entities that suffered financial losses as a direct result of this
disaster. Apart from aquaculture enterprises, SBA cannot provide disaster loans to agricultural
producers, farmers, and ranchers.
The loan amount can be up to $2 million with interest rates of 4 percent for small businesses and
2.375 percent for private nonprofit organizations, with terms up to 30 years. These 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.
Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure
website at DisasterLoanAssistance.sba.gov/ela/s/ and should apply under SBA declaration # 18039.
Disaster loan information and application forms may also be obtained by calling the SBA’s Customer
Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial
7-1-1 to access telecommunications relay services), or sending an email to
[email protected]. Loan applications can be downloaded from the SBA’s website at
sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration,
Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
Submit completed loan applications to the SBA no later than April 1, 2024
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