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Dec. 28 deadline for loans for Mississippi Feb. flood damage

November 26, 2020 GMT

ATLANTA (AP) — The Small Business Administration is reminding people in Mississippi about the deadline to apply for low-interest loans to recover from floods that occurred Feb. 10-14.

Dec. 28 is the deadline for applications from small businesses, small agricultural cooperatives, small aquaculture businesses and private nonprofit organizations, according to a news release sent Wednesday.

Economic injury disaster loans of up to $2 million are available in Attala, Claiborne, Copiah, Hinds, Holmes, Leake, Madison, Rankin, Scott, Simpson, Warren and Yazoo counties.

The loans can be used to pay fixed debts, payroll, accounts payable, and other expenses that could have been paid if there hadn’t been a disaster.

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Interest on the loans is 3.75 percent for small businesses and 2.75 percent for private nonprofit organizations, with terms up to 30 years.

Applicants may apply online at DisasterLoan.sba.gov under SBA declaration No. 16404 or download applications at sba.gov/disaster. They can also get information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing DisasterCustomerService@sba.gov.

The address for mailed applications is: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.