[Sc-aquaponics] Fw: SBA Working Capital Loan Available in Ohio Following Secretary of Agriculture Disaster Declaration for Excessive Rainfall

Thu Feb 3 10:50:03 EST 2022

All,

Please see the information below and attached regarding support for excessive rainfall. Please note that aquaculture is specifically mentioned. I do not have any more information at this time other than what is provided here, but I would be happy to chat with you. Please note this is only for Wood County and the surrounding counties.

Regards,

Matt

[The Ohio State University]
Matthew A. Smith
Aquaculture Extension Specialist

Madison County Extension Office
College of Food, Agricultural, and Environmental Sciences
217 Elm Street, London, Ohio 43140
740.852.0975 ext 17 Office
smith.11460 at osu.edu

Subject: SBA Working Capital Loan Available in Ohio Following Secretary of Agriculture Disaster Declaration for Excessive Rainfall

Good morning,

Please see the attached SBA disaster assistance news release issued recently.  The U.S. Small Business Administration<https://urldefense.com/v3/__http://www.sba.gov/disaster__;!!KGKeukY!lZ3sUkfau8SBLhYiCRALVFHAdm_oIDgbJB4yTCwlHG3Eq9c9z4Cdon9KgQECKZQOGLVPjw$> (SBA) announced today that Economic Injury Disaster Loans (EIDLs) are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations in Ohio because of excessive rain occurring Oct. 1 - 31, 2021.

The declaration covers the primary county of Wood in Ohio, and the contiguous Ohio counties of Hancock, Henry, Lucas, Ottawa, Putnam, Sandusky, and Seneca.

“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to eligible entities, affected by the same disaster,” said Kem Fleming, director of SBA’s Field Operations Center East.

Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible
farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster.  Apart from aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers or ranchers.

The loan amount can be up to $2 million with interest rates of 2.855 percent for small businesses and
2 percent for private nonprofit organizations, with terms up to 30 years.  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.  The loans are not intended to replace lost sales or profits.

Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at DisasterLoanAssistance.sba.gov<https://urldefense.com/v3/__https://disasterloan.sba.gov/ela/s__;!!KGKeukY!lZ3sUkfau8SBLhYiCRALVFHAdm_oIDgbJB4yTCwlHG3Eq9c9z4Cdon9KgQECKZQCNVpfQQ$>/ela/s/ and should apply under SBA declaration # 17322, 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 at sba.gov<mailto:disastercustomerservice at sba.gov>. Loan applications can be downloaded from the SBA’s website at sba.gov/disaster<https://urldefense.com/v3/__https://disasterloanassistance.sba.gov/ela/s/article/Paper-Forms__;!!KGKeukY!lZ3sUkfau8SBLhYiCRALVFHAdm_oIDgbJB4yTCwlHG3Eq9c9z4Cdon9KgQECKZRTQt5kQQ$>. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Submit completed loan applications to SBA no later than Sept. 19, 2022.

Thank you,

Jay MacKenna
Public Affairs Specialist
Field Operations Center - East
U.S. Small Business Administration
101 Marietta St. NW, Suite 700
Atlanta, GA  30303
(404) 331-0333
Cell (404) 805-7557
Fax (202) 481-6263
william.mackenna at sba.gov<mailto:william.mackenna at sba.gov>

[SBA-Hor-2]

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