The drought in Elbert County that began this April prompted the SBA to offer eligible small nonfarm businesses in Arapahoe, Douglas, El Paso, Elbert and Lincoln counties low interest federal disaster loans. See previous blog.
Prepare, Respond, Recover: Obtain a “Disaster Recovery and Continuity Guide for Colorado Businesses” produced by the Colorado SBDC under the Disaster Relief Program. It includes helpful assessment, action and financial projection worksheets. Just call or drop by the Aurora-South Metro SBDC (Aurora office — 303-326-8686).
SBA Economic Injury Disaster Loans Available to Colorado Small Businesses
SACRAMENTO, Calif. – Small nonfarm businesses in Arapahoe, Douglas, El Paso, Elbert and Lincoln counties are now eligible to apply for low‑interest federal disaster loans from the U.S. Small Business Administration, announced Director Tanya N. Garfield of SBA’s Disaster Field Operations Center-West. These loans offset economic losses because of reduced revenues caused by drought in Elbert County that began April 10, 2018.
“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster,” Garfield said.
Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.
“Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 3.58 percent for businesses and 2.5 percent for private nonprofit organizations, a maximum term of 30 years and are available to small businesses and most private nonprofits without the financial ability to offset the adverse impact without hardship,” Garfield said.
By law, SBA makes Economic Injury Disaster Loans available when the U.S. Secretary of Agriculture designates an agricultural disaster. The Secretary declared this disaster on June 5, 2018.
Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Service Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration. However, nurseries are eligible for SBA disaster assistance in drought disasters.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email email@example.com for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for economic injury is Feb. 5, 2019.
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About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
Health Powers Life campaign for immigrants and refugees in Aurora receives international accolades
AURORA, Colo. – Health Powers Life, an outreach campaign targeting better health outcomes for Aurora’s immigrant and refugee communities, has been recognized by the Academy of Interactive and Visual Arts with three Communicator Awards.
“One in five residents in Aurora was born outside the United States, and Health Powers Life is an important tool in the city’s strategic plan to connect immigrants and refugees with important services and ensure they are able to be their best, healthy selves,” said Ricardo Gambetta, head of Aurora’s Office of International and Immigrant Affairs. “We are excited to hear about the recognition for how well the campaign has been promoted, and we are even more excited to see that translate into healthy outcomes for all our residents.”
The Colorado Small Business Development Center Network (SBDC) is funded through a cooperative agreement with the U.S. Small Business Administration (SBA). The SBDC Network is a partnership between the State of Colorado, Colorado Office of Economic Development and International Trade, the Small Business Administration (SBA), Colorado’s institutions of higher education, local economic development organizations and local chambers of commerce.