Deadline Approaching for NY, NJ, MA, PA and CT Small Businesses and Nonprofits to Get EIDLs from Hurricane Ida

Tiny small business house owners in New York, New Jersey, Connecticut, Massachusetts and Pennsylvania have till June 6 to utilize for a Compact Business enterprise Administration (SBA) Financial Impression Catastrophe Bank loan linked to Hurricane Ida.

Hurricane Ida pummeled the northeast coastline for 3 days, September 1-3, 2021.

The June 6 deadline is for concluded applications. In other words, total with all required paperwork. For much more information and facts, go to the SBA web site for EIDLs, or call 800-659-2955.

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EIDL Loans for Hurricane Ida Reduction

Here’s some additional information and facts on how to apply and how substantially aid funds is out there for the EIDL Mortgage plan for small firms influenced by Hurricane Ida.

Who Can Utilize?

The Hurricane Ida EIDL acceptance area is large. It involves 15 counties in New York, Pike County in Pennsylvania, Berkshire County in Massachusetts, Fairfield and Litchfield counties in Connecticut and a few counties (Bergen, Passaic and Sussex) in New Jersey.

How A great deal is Readily available?

The Economic Effect Catastrophe Financial loan (EIDL) is a doing work funds loan from the SBA. Small firms, modest agricultural cooperatives (like aquaculture organizations), and nonprofits can use. Nonprofits can include food stuff kitchens, homeless shelters, museums, libraries, group facilities, colleges and faculties.

Loans of up to $2 million are offered, at 2.85% fascination with terms up to 30 a long time. For non-revenue, the fascination price is 2%.

EIDL Hurricane Ida Monies to Date

In New York, the SBA has administered $212 million for Hurricane Ida EIDLs. In New Jersey, the SBA has administered $248 million for Hurricane Ida loans.

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Graphic: Depositphotos

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