Officials on Wednesday advised businesses seeking disaster loans because of the coronavirus pandemic to submit applications via email and snail mail because the web portal to apply online is “temporarily unavailable.”
The U.S. Small Business Administration urged applicants for its Economic Injury Disaster Loans to download the application from its website: disasterloan.sba.gov/apply-for-disaster-loan/index.html.
Agency spokesman Matt Coleman said completed forms may be sent to email@example.com or U.S. Small Business Administration Processing and Disbursement Center, 14925 Kingsport Rd., Fort Worth, TX 76155.
It wasn’t clear Wednesday how long businesses haven’t been able to apply online for a disaster loan. The CEO of a marketing company in Suffolk County said he had been unable to use the web portal for the day.
A week ago, SBA issued an economic disaster declaration for all of New York’s 62 counties. The declaration is necessary before companies may apply for disaster loans.
The loans are for up to $2 million per applicant and can be repaid over a maximum of 30 years. To be eligible, businesses must have 500 or fewer employees and be unable to secure other financing to keep operating. The interest rate is 3.75%.
More information is available by calling 800-659-2955. The application deadline is Dec. 21. -- James T. Madore