SBA Offers Disaster Assistance to Small Businesses in Rhode Island Affected by the Gas Outage Due to Extreme Cold Temperatures

Fire Department
February 21, 2019

NEWS RELEASE

Disaster Field Operations Center East

Release Date: Feb. 16, 2019 Contact: Michael Lampton (404)
331-0333
Michael.Lampton@sba.gov
Release Number: 19-286, RI 15867 Follow us on Twitter, Facebook, Blogs &
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SBA Offers Disaster Assistance to Small Businesses in Rhode Island Affected by the Gas Outage Due
to Extreme Cold Temperatures

WASHINGTON – Low-interest Economic Injury Disaster Loans (EIDLs) from the U.S. Small Business
Administration (SBA) are available to Rhode Island small businesses, small agricultural
cooperatives, small aquaculture businesses and private nonprofit organizations affected by the Gas
Outage Due to Extreme Cold Temperatures on Jan. 21-29, 2019.

SBA Administrator Linda McMahon made the loans available in response to a letter
from Gov. Gina M. Raimondo on Feb. 7, requesting a disaster declaration by the SBA. The
declaration covers Newport County and the adjacent counties of Bristol, Kent and Washington in
Rhode Island and Bristol in Massachusetts.

“The SBA is strongly committed to providing the people of Rhode Island with the most effective and
customer-focused response possible to assist small businesses with federal Economic Injury Disaster
Loans,” said McMahon. “Getting businesses and communities up and running after a disaster is our
highest priority at SBA.”

SBA’s Customer Service Representatives will be available at the Business Recovery Center to answer
questions about the disaster loan program and help individuals complete their applications.

The Center is located in the following community and is open as indicated:

Newport County
Newport Harbor and Marina 49 America’sCupAvenue Newport, RI 02840
Opens: Tuesday, Feb. 19 at 11 a.m.
Hours: Monday through Friday, 9 a.m. – 6 p.m.
Saturdays, 10 a.m. to 2 p.m. Closed: Sundays

“The SBA can help affected small businesses and nonprofit organizations overcome their economic
losses by offering working capital loans, but the help cannot start until they submit an SBA
disaster loan application to us,” said SBA’s Rhode Island District Director Mark S. Hayward.

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Eligible entities may qualify for loans up to $2 million. The SBA offers economic injury loans to
help meet working capital needs caused by the disaster. The rates on these loans are 3.74 percent
for small businesses and 2.75 percent for nonprofit organizations with terms up to 30 years.
Eligibility for these working capital loans are based on the size and type of business and its
financial resources. These working capital loans may be used to pay fixed debts, payroll, accounts
payable, and other bills that could have been paid had the disaster not occurred. The loans are not
intended to replace lost sales or profits.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at
DisasterLoan.sba.gov.

Applications and program information are available by calling the SBA’s Customer Service Center at
1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing
disastercustomerservice@sba.gov. Loan applications can also be downloaded at www.sba.gov. 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 applications for economic injury is Nov. 15, 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.

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