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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 applying deadline quickly approaching, small companies and nonprofits in these states are urged to make the most of the SBA’s EIDL program. These loans are designed to supply the required monetary assist to climate the financial affect of the continuing drought and guarantee continued operation and restoration.
The SBA reminds small companies in Colorado that the deadline to use for Financial Damage 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 Economic Injury Disaster Loans offer vital financial support to small businesses and nonprofits that have suffered economic damage due to the drought,” stated SBA Administrator Isabella Casillas Guzman. “These loans help cover operational costs that would have been met had the disaster 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 supply much-needed aid.
“Small businesses and nonprofits are the backbone of Montana’s economy,” stated SBA Montana District Director Brent Donnelly. “The EIDL program provides crucial financial assistance to help them overcome the economic 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 sources they should keep afloat.
“The economic impact of the drought has been devastating for many small businesses in New Mexico,” stated SBA New Mexico District Director John Garcia. “Our goal is to provide financial support through EIDL loans to help these businesses recover and continue contributing to our local economy.”
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/disaster. The SBA Buyer Service Heart can also be out there to help candidates at (800) 659-2955 or disastercustomerservice@sba.gov. For many who are deaf, arduous of listening to, or have a speech incapacity, dial 7-1-1 to entry telecommunications relay companies.
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