SBA Offers Low Interest Loans to Businesses Over Wildfire Losses
The U.S. Small Business Administration if offering low interest loans to businesses in several Montana counties who suffered losses during the summer of 2016 fire season.
Tim Thennis is the Disaster Recover Unit Supervisor with Montana Disaster and Emergency Services.
“The governor just requested and received an economic injury declaration and that allows businesses that had some economic losses to work with the SBA to get some low interest loans, and they do not have to be tied directly with the Rice Ridge Fire.”
Small, nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.
Thennis detailed the localities that are eligible for the low interest loans.
“The loans are for Missoula County, as well as the contiguous counties of Flathead, Granite, Lake, Mineral, Powell, Ravalli and Sanders counties, and the contiguous counties in Idaho of Clearwater and Idaho,” he said. “The law authorizes loan terms of up to a maximum of 30 years, with the SBA determining an appropriate installment payment schedule.”
The filing deadline is September 11, 2018.
Find more information about where and how to file here.