Friday, 08 August 2008 02:32

New Loans Could Help Amador Businesses

slide18.pngThe U. S. Small Business Administration, or SBA, has just announced that small, non-farm businesses in 18 California counties may now apply for low interest disaster loans. These disaster loans offset economic losses because of reduced revenues caused by adverse weather conditions in the primary counties including Amador County, announced Alfred E. Judd, Director of SBA’s Disaster Field Operations Center in the West. Small businesses in Amador County may apply for working capital loans to offset economic losses attributable to freezing temperatures between April 19th and April 25th.

Small businesses and most private, non-profit organizations of any size may qualify for Economic Injury Disaster Loans, or EIDLs, of up to $2 million dollars. By law, SBA makes EIDLs available when the Secretary of Agriculture designates an agricultural disaster. Secretary Ed Schafer declared these disasters at the request of Governor Arnold Schwarzenegger. “Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans…are restricted to small businesses without the financial ability to offset the adverse impact without hardship,” Judd said. Information and application forms are available from SBA’s Customer Service Center by calling (800)659 2955, or emailing This email address is being protected from spambots. You need JavaScript enabled to view it..