Charlevoix is one of several Michigan counties qualified for disaster recovery loans through the Small Business Administration.
U.S. Senator Gary Peters (MI) is encouraging small businesses that have been affected by excessive rain and cooler than normal temperatures that began on April 1, 2014, to contact his office if they need help applying for a disaster assistance loan.
Currently, the SBA’s Economic Injury Disaster Loans program is available to eligible Michigan farm-related and nonfarm-related entities that suffered financial losses as a direct result of these weather changes.
“Small businesses are the backbone of Michigan’s economy, and when disaster strikes, it is critical that we respond to ensure they have the resources needed to recover and continue strengthening our economy,” said Peters, a member of the Senate Small Business and Entrepreneurship Committee.
Michiganders who need assistance with their application should call Peters’ office at (313) 226-6020.
The filing deadline to return completed loan applications to the SBA is Nov. 25.
The federal Economic Injury Disaster Loans are for working capital and can be up to $2 million with interest rates of 4 percent for eligible small businesses and 2.625 percent for nonprofit organizations, and terms up to 30 years.