Oct. 27, 2020 SBA Economic Injury Disaster Loans Announced for drought. Loan applications due by June 14, 2021
To Regional Offices and other partners:
SBA releases Economic Injury Disaster Loans (EIDL) following Secretary of Agriculture Declarations. Several Sec. of Ag declarations were issued at one time, and as a result SBA has issued releases on disaster loans. Because the Disaster loans apply to the contiguous counties of declared counties, counties may fall under two or more declaration.
Under the State of Connecticut Sec. of Agriculture declaration (Drought beginning on September 22, 2020), SBA released the Economic Injury Disaster Loan Program in the counties of Hartford, Litchfield, Middlesex, New Haven, New London, Tolland and Windham. These loans can be used to pay fixed debts, payroll, accounts payable and other bills that could have been paid if the disaster had not occurred.
___________________________
October 27, 2020: Small Business Administration (SBA) News Release (21-070, CT 16723) announced the availability of Economic Injury Disaster Loans to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and private nonprofit organizations in Hartford, Litchfield, Middlesex, New Haven, New London, Tolland and Windham are eligible under the State of Connecticut’s Sec. of Agriculture declaration as a result of drought beginning on September 22, 2020. (Please note: Because SBA releases loans in counties that are contiguous to the declared county, many counties fall under more than one SBA declaration).
The EIDL is open to eligible farm-related and non-farm related entities that suffered financial losses as a direct result of this disaster. Except for aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers and ranchers. Nurseries are eligible to apply for economic injury disaster loans for losses caused by drought conditions. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoan.sba.gov and should apply under SBA declaration # 16723, not for the COVID-19 incident. Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to DisasterCustomerService@sba.gov.
Completed Loan applications are due to SBA no later than June 14, 2021.