SBA Deadline Approaching for Working Capital Loans in New Hampshire, Maine and Massachusetts

Contact: Mark Ihenacho, (404) 331-0333, Mark.Ihenacho@sba.gov

ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations that Oct. 15 is the filing deadline for federal working capital loans in parts of New Hampshire, Maine and Massachusetts due to flooding and excessive moisture that occurred June 15 through Nov. 1, 2023.

Low-interest disaster loans are available in the counties of Belknap, Carroll, Hillsborough, Merrimack, Rockingham and Strafford in New Hampshire; York in Maine; and Essex in Massachusetts.

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% for small businesses and 2.375% for private nonprofit organizations, with terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. These working capital loans may be used to pay fixed debts, payroll, account 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.

For more information and to apply online visit SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

Submit completed loan applications to SBA no later than October 15, 2024.

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About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field