SBAsealSmall businesses, small agricultural cooperatives and most private nonprofit organizations that were affected by an apartment complex fire in Agawam in November still have some time to apply for working capital loans from the U.S. Small Business Administration (SBA).

"Businesses that suffered economic losses as a result of the disaster and want to apply for low-interest loans from the SBA are urged to do so before the Sept. 7 deadline," said Frank Skaggs, director of SBA Field Operations Center East.

Economic Injury Disaster Loans up to $2 million are available at 4 percent for small businesses and 3 percent for private nonprofit organizations of all sizes, with terms up to 30 years, according to a statement. The loans are intended to pay fixed debts, payroll, accounts payable and other expenses that could have been paid had the disaster not occurred.

Agawam Small Business Loan Deadline Looming

by Banker & Tradesman time to read: 1 min
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