SBA disaster loan deadline extended to July 31

The federal government’s Small Business Administration (SBA) has extended the deadline for small businesses that suffered losses due to this year’s unusually mild winter to apply for Economic Injury Disaster Loans.

The new deadline for businesses in Oneida, Vilas, Iron, Forest and other northern counties is July 31.

 “SBA has confirmed that they will consider business loss from recent low snowfalls over the winter months to be related to the drought and eligible for assistance,” the offices of Gov. Tony Evers and Sen. Tammy Baldwin said in a February press release announcing the loans. “The lack of snow has impacted travel and recreation businesses that depend on it for activities such as downhill and cross-country skiing, snowshoeing, and snowmobiling.”

The original deadline was May 29.

Businesses in designated counties can borrow up to $2 million to cover actual losses, according to the press release, with no interest for the first year and a max rate of 4 percent the rest of the loan period.

For information about applying for a SBA loan, business owners can visit https://lending.sba.gov, call 800-659-2955 or email [email protected]. 

“Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX, 76155,” the press release states. “Applicants may also contact the Wisconsin Economic Development Corporation with their EIDL-related questions at [email protected].”