The U.S. Small Business Administration (SBA) advises disaster victims of the Deepwater BP Oil Spill to take advantage of the opportunity to visit one of the Business Recovery Centers and apply for assistance now, rather than waiting to settle with the BP Company.
The SBA said the Centers are open Monday through Saturday from 8 a.m. to 5 p.m.
If a business owner does not know how much of their loss will be covered by BP, insurance or other sources, the SBA will consider making a loan for the total loss up to its loan limits, provided the borrower agrees to use proceeds from any settlement to reduce or repay their SBA loan.
"Assisting small businesses during this economic crisis by making low-interest disaster loans are a part of our primary mission," said Frank Skaggs, director of SBA Field Operations Centers East in Atlanta.
"We are encouraging all business owners affected by the oil spill to visit a Center to obtain individual assistance with completing their loan applications."
SBA Disaster Loans Available In MississippiSBA Makes Change To Improve Loan SituationSBA Makes It Easier For Businesses Affected By Oil Spill To Get LoansSBA Disaster Loan DeadlinesMississippi Flooding: SBA Loans of up to $2 Million for Small BusinessesHave I Mentioned Disaster Recovery Plans?SBA Introduces New Loan Programs For Underserved Communities SBA Expresses Approval Of Stimulus BillSBA Rolls Out Big, Green LoansSBA Increases The Amounts Of Loans For Small Businesses
 | |||
| Do you have a business site? Submit your business related site FREE! | |||
| |||
Submit Your Article
Advertise
Newsletter
Comments
So many small businesses are
So many small businesses are affected by this mess - and the breadth continues to grow. The southern coastal area relies heavily on tourism in addition to general livelihood necessities, so I anticipate many, many claims being filed. Right now, it is impossible to determine which businesses will be affected, but there is sure to be a major "trickle down" flow.
SBA Advises Businesses
It is critical we take every step we can to provide small businesses with resources to make it through this latest crisis so they can continue to drive local economic growth and provide good-paying jobs
Post new comment