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Federal loans available for small businesses affected by toxic algae

Small businesses impacted by algae can apply for federal loans starting Friday
Small businesses impacted by algae can apply for federal help
Federal loans available for small businesses affected by toxic algae
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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.