Director Tanya Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West is reminding Alaska small businesses of the July 8 deadline to apply for an SBA federal disaster loan for economic injury caused by the Swan Lake Fire of 2019.
According to Garfield, small non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations of any size may apply for Economic Injury Disaster Loans up to $2 million to help meet working capital needs caused by the disaster.
These low-interest federal disaster loans are available in Chugach Regional Educational Attendance Area, Iditarod Area, Kenai Peninsula Borough, Kodiak Island Borough, Lake and Peninsula Borough, Matanuska-Susitna Borough, and the Municipality of Anchorage.
The interest rate is 4 percent for businesses and 2.75 percent for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Applicants may apply online, receive additional disaster assistance information and download applications at https://
