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Federal loans available for small businesses affected by toxic algae

Posted: 10:18 PM, Sep 05, 2018
Updated: 2018-10-02 13:49:32Z
Federal loans available for small businesses

The U.S. Small Business Administration announced Wednesday they are offering low-interest loans to Florida small businesses, small agricultural cooperatives, small aquaculture businesses and private nonprofit organizations affected by toxic algae blooms starting on June 1, according to a news release from the SBA.

Eligible businesses may qualify for loans up to $2 million but not intended to replace lost sales or profits.

The loans became available after the SBA received a letter from Gov. Rick Scott on Aug. 20 requesting a disaster declaration, said the release.

The declaration covers the following counties: 

  • Palm Beach 
  • St. Lucie 
  • Martin 
  • Okeechobee
  • Lee 
  • Charlotte 
  • Collier
  • Glades
  • Hendry

“The SBA is strongly committed to providing the people of Florida with the most effective and customer-focused response possible to assist small businesses with federal Economic Injury Disaster Loans,” said McMahon. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”  

Disaster Loan Outreach Centers open Sept. 7 at 11 a.m. at 1895 SE Flying Fortress Way, Martin County Airport Maintenance Building, in Stuart in Martin County.  Also a center will open in Lee County at the City/County Annex Building in Fort Myers located at 1825 Hendry St.

The hours of operation for both locations will be Monday through Friday from 9 a.m. to 6 p.m. and Saturday from 10 a.m. to 2 p.m.

The filing deadline is June 4, 2019.

Click here to learn more and apply for the loans.