Small companies in Colorado, Montana, and New Mexico face looming deadlines to use for SBA working capital loans as a result of extreme drought situations. The SBA is stepping as much as present essential monetary help for these affected by the drought.
With the appliance deadline quickly approaching, small companies and nonprofits in these states are urged to reap the benefits of the SBA’s EIDL program. These loans are designed to offer the required monetary assist to climate the financial affect of the continued drought and guarantee continued operation and restoration.
The SBA reminds small companies in Colorado that the deadline to use for Financial Harm Catastrophe Loans (EIDL) is June 17, 2024. These loans can be found to small non-farm companies, small agricultural cooperatives, small companies engaged in aquaculture, and personal nonprofit organizations impacted by the drought.
“SBA’s Financial Harm Catastrophe Loans provide important monetary assist to small companies and nonprofits which have suffered financial injury as a result of drought,” mentioned SBA Administrator Isabella Casillas Guzman. “These loans assist cowl operational prices that will have been met had the catastrophe not occurred.”
Montana companies additionally face a June 17 deadline to use for EIDL loans. The extended drought has considerably impacted native economies, and the SBA goals to offer much-needed aid.
“Small companies and nonprofits are the spine of Montana’s financial system,” mentioned SBA Montana District Director Brent Donnelly. “The EIDL program supplies essential monetary help to assist them overcome the financial challenges posed by the drought.”
New Mexico companies have till June 17 to use for EIDL loans as a result of drought situations. The SBA is dedicated to making sure that small companies and nonprofits within the state can entry the assets they should keep afloat.
“The financial affect of the drought has been devastating for a lot of small companies in New Mexico,” mentioned SBA New Mexico District Director John Garcia. “Our aim is to offer monetary assist by way of EIDL loans to assist these companies recuperate and proceed contributing to our native financial system.”
Small companies, agricultural cooperatives, aquaculture companies, and personal nonprofits in Colorado, Montana, and New Mexico can apply for EIDL loans by way of the SBA’s web site at sba.gov/catastrophe. The SBA Buyer Service Heart can be accessible to help candidates at (800) 659-2955 or disastercustomerservice@sba.gov. For many who are deaf, laborious of listening to, or have a speech incapacity, dial 7-1-1 to entry telecommunications relay providers.
