Small businesses, small agricultural cooperatives and most private nonprofit organizations that suffered economic loss as a result of the storms and flooding of Aug. 13 through 15 of last year have until July 11 to apply for U.S. Small Business Administration working capital loans, according to the agency.
The Economic Injury Disaster Loans are available to eligible small businesses and other organizations in Atlantic, Camden, Cumberland, Gloucester and Salem counties, according to the agency.
EIDLs are available for loans of up to $2 million, at 4 percent, for small businesses, and at 3 percent for private nonprofits, with terms up to 30 years, according to the agency.
The loans are made so businesses can pay fixed debts, meet payroll, accounts payable, and other expenses that could have been paid had the disaster not occurred, according to the agency.
Small businesses in New Castle County, Del.; and Delaware and Philadelphia counties in Pennsylvania may also be eligible for the loans, according to the agency.
