LANSING, Mich. — Governor Gretchen Whitmer announced now that the U.S. Modest Business Administration (SBA) is making Economic Damage Disaster Loans of up to $2 million available to eligible small corporations, agricultural cooperatives, and nonprofits impacted by excessive rain that transpired Oct. 1, 2019 by way of June 3, 2020.
SBA extended the loans following the Secretarial Disaster Declaration obtained by Governor Whitmer from U.S. Department of Agriculture (USDA) Secretary Sonny Perdue last year.
“This is welcome news for Michigan organizations that had to endure just one of the wettest a long time on record in Michigan,” said Governor Whitmer. “I’m glad the federal authorities has regarded the need for this support, and I am keen to carry on doing work with them to further assist Michigan companies.”
Financial loans are offered to small businesses, smaller agricultural cooperatives, small firms engaged in aquaculture, and non-public nonprofit businesses in Clinton, Gratiot, Ionia, Isabella, Midland, Montcalm, Saginaw and Shiawassee counties.
In June 2019, Governor Whitmer requested a USDA Secretarial Disaster Designation for the full state of Michigan to supply aid to farmers impacted by historic rainfall. USDA finally specified much more than 40 Michigan counties as main disaster areas beginning in November 2019.
When the Secretary of Agriculture concerns a catastrophe declaration to enable farmers get better from damages and losses to crops, SBA issues a declaration to eligible entities, afflicted by the exact same catastrophe.
Candidates may well apply on-line, obtain extra catastrophe support information and facts and obtain purposes at https://disasterloan.sba.gov/ela.
Applicants should apply underneath SBA declaration #16760. Applicants might also call SBA’s Buyer Provider Center at (800) 659-2955 or email [email protected] for a lot more info. Applications are owing to SBA no later on than June 21, 2021.