Due to the Fountain Court mall fire on June 25, businesses and private nonprofits in Monroe County and all of the contiguous counties, including Sussex County, are eligible to apply for a low-interest Economic Injury Disaster Loan under this declaration PA 18015. Sometimes businesses do not see a decline in loss of revenue until many months later.
For eligible applicants, the SBA offers Economic Injury Disaster Loans (EIDL) to help meet working capital needs caused by the disaster.
Interest rates are 4 percent for businesses and 2.375 percent for nonprofit organizations, with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoanAssistance.sba.gov/ela/s and should apply under SBA declaration # 18015.
Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955(800-877-8339 for the deaf and hard-of-hearing) or emailing DisasterCustomerService@sba.gov. Loan applications may be downloaded at sba.gov/disaster. Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return economic injury applications is April 15, 2024.