The U.S. Small Business Administration (SBA) is offering low-interest federal loans for working capital to small businesses economically impacted by the Main Street fire in Bothell. SBA acted under its own authority to declare a disaster following a request received on Oct. 19 from Gov. Jay Inslee.
Eligibility is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4 percent for small businesses and 2.625 percent for private nonprofit organizations with terms up to 30 years, and are restricted to small businesses without the financial ability to offset the adverse impact without hardship.
Applicants may apply online using SBA’s secure website, disasterloan.sba.gov, and the filing deadline to return economic injury applications is July 24, 2017.
Additionally, the Washington Small Business Development Center (WSBDC) is offering free, personalized counseling to help affected businesses in their recovery. Businesses may contact Jennifer Shelton at the WSBDC by telephone at 425-640-1435 from 9 a.m. to 4 p.m. Monday through Friday for an appointment.
This is taken from a SBA press release.