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Small business loans are available
Saturday, July 15, 2006 | No comments posted.
The U.S. Small Business Administration is making federal disaster loans available to salmon fishermen and related businesses due to this year's salmon season restrictions in Oregon and California.
The SBA has officially recognized the disaster and is offering low-interest economic injury disaster loans to salmon industry members in ports from Santa Barbara, Calif., to Astoria.
Eligible applicants include:
- small businesses engaged in salmon fishing in the waters affected by the restrictions (employees or crew members are not considered small businesses and are not eligible);
- small businesses dependent on the catching or sale of salmon, including suppliers of fishing gear and fuel, docks, boatyards, processors, wholesalers, shippers and retailers; and
- other small businesses dependent on revenue from the above.
Capital loans of up to $1.5 million, at an interest rate of 4 percent with terms up to 30 years are offered.
“SBA economic injury disaster loans may be used to pay fixed debts, payroll, accounts payable and other bills that can't be paid because of the disaster's impact,” Alfred E. Judd, director of SBA's Disaster Field Operations Center - West, said in a press release.
The SBA has established 18 outreach centers in California and Oregon to help affected businesses.
“We recognize that some affected businesses are reluctant to seek a loan to meet their immediate financial needs,” Judd said. “We urge these businesses to visit one of these outreach centers and meet with an SBA representative, who may be able to refer them to financial counseling services.”
Businesses unable to visit an outreach center also can call (800) 659-2955. Hearing impaired individuals can all (800) 877-8339.
The local outreach centers, according to the press release, operating hours will be:
- Coos Bay/Charleston: Bay Area Chamber of Commerce, 145 Central Ave., Coos Bay, 8:30 a.m. to 5 p.m., Tuesday through Friday, beginning July 18.
- Port Orford: Office of the Harbor Master, 300 Dock Road, Port Orford, 8:30 a.m. to 5 p.m., Mondays, beginning July 24.
n Florence/Winchester Bay: Human Services Office, 3180 U.S. Highway 101, Florence, 9 a.m. to 5 p.m., Mondays, beginning July 24.
- Staff Writer Susan Chambers
The SBA has officially recognized the disaster and is offering low-interest economic injury disaster loans to salmon industry members in ports from Santa Barbara, Calif., to Astoria.
Eligible applicants include:
- small businesses engaged in salmon fishing in the waters affected by the restrictions (employees or crew members are not considered small businesses and are not eligible);
- small businesses dependent on the catching or sale of salmon, including suppliers of fishing gear and fuel, docks, boatyards, processors, wholesalers, shippers and retailers; and
- other small businesses dependent on revenue from the above.
Capital loans of up to $1.5 million, at an interest rate of 4 percent with terms up to 30 years are offered.
“SBA economic injury disaster loans may be used to pay fixed debts, payroll, accounts payable and other bills that can't be paid because of the disaster's impact,” Alfred E. Judd, director of SBA's Disaster Field Operations Center - West, said in a press release.
The SBA has established 18 outreach centers in California and Oregon to help affected businesses.
“We recognize that some affected businesses are reluctant to seek a loan to meet their immediate financial needs,” Judd said. “We urge these businesses to visit one of these outreach centers and meet with an SBA representative, who may be able to refer them to financial counseling services.”
Businesses unable to visit an outreach center also can call (800) 659-2955. Hearing impaired individuals can all (800) 877-8339.
The local outreach centers, according to the press release, operating hours will be:
- Coos Bay/Charleston: Bay Area Chamber of Commerce, 145 Central Ave., Coos Bay, 8:30 a.m. to 5 p.m., Tuesday through Friday, beginning July 18.
- Port Orford: Office of the Harbor Master, 300 Dock Road, Port Orford, 8:30 a.m. to 5 p.m., Mondays, beginning July 24.
n Florence/Winchester Bay: Human Services Office, 3180 U.S. Highway 101, Florence, 9 a.m. to 5 p.m., Mondays, beginning July 24.
- Staff Writer Susan Chambers
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