SBA Offers Disaster Assistance to Businesses and Residents of Maine Affected by Severe Storms and Flooding
A recent press release from the SBA has announced that low-interest disaster loans from the U.S. Small Business Administration (SBA) are available to businesses and residents in Maine following the announcement of a Presidential disaster declaration due to severe storms and flooding that occurred on Jan. 9-13.
The disaster declaration covers Cumberland, Hancock, Knox, Lincoln, Sagadahoc, Waldo, Washington, and York counties in Maine, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans (EIDLs): Androscoggin, Aroostook, Kennebec, Oxford, Penobscot, and Somerset in Maine; Strafford, Rockingham, and Carroll in New Hampshire.
The SBA is now operating a Business Recovery Center at the Moore Community Center (125 State Street, Ellsworth). Customer service representatives will assist business owners complete their disaster loan application, accept documents for existing applications, and provide updates on an application’s status.
The filing deadline to return applications for physical property damage is May 20, 2024. The deadline to return economic injury applications is Dec. 23, 2024.
The full press release with details on the loan programs and process is available here: SBA Offers Disaster Assistance
To help you prepare for a loan as a resident, business or non-profit check out the SBA checklists below:
