Search Results for agency_names:"Small Business Administration"

The U.S. Small Business Administration announced a Presidential declaration of a major disaster for the State of Utah due to an earthquake and aftershocks that occurred from March 18 to April 17, 2020. This disaster declaration was issued on December 31, 2020, and it allows Private Non-Profit organizations that provide essential services to apply for disaster loans. The application deadlines are March 1, 2021, for physical loans, and October 1, 2021, for Economic Injury Disaster Loans (EIDL). Affected areas include Salt Lake County.

On November 26, 2024, the U.S. Small Business Administration declared a disaster in the State of New York due to severe storms and flooding that occurred from August 18 to August 19, 2024. Disaster loans can be applied for online through the MySBA Loan Portal, and applications for physical damage loans have a deadline of January 27, 2025, while economic injury loans can be applied for until August 26, 2025. Suffolk County is the primary area affected, with Nassau County also impacted. The declaration assigns specific numbers for tracking physical and economic injury damages for the affected areas.

The U.S. Small Business Administration has issued a second amendment to a previous disaster declaration for the State of California due to civil unrest. This amendment updates the incident period to run from May 26, 2020, through December 28, 2020. People looking to apply for Physical Loan Assistance had until September 16, 2020, but those seeking Economic Injury Disaster Loans (EIDL) can submit applications up to March 17, 2021. All other details from the original declaration remain the same.

The Small Business Administration (SBA) has announced changes to its Risk Rating System, an internal tool used to evaluate the risk of its loan operations and portfolios of 7(a) Lenders and Certified Development Companies. These updates involve improving the model that determines the loan risk ratings and updating the Lender Portal to ensure it reflects current data and economic conditions. The changes aim to enhance prediction accuracy and transparency while allowing the SBA to efficiently manage lender oversight and performance assessment. The public is invited to comment on these updates.

The Small Business Administration has issued a notice regarding the Presidential declaration of a major disaster in Missouri, focusing on public assistance due to severe storms, tornadoes, straight-line winds, and flooding. This declaration allows private non-profit organizations providing essential government-like services to apply for disaster loans online. The affected areas include several counties such as Carter, Crawford, and Howell, among others. Physical loan applications are due by March 3, 2025, and economic injury loan applications are due by October 1, 2025.

The U.S. Small Business Administration (SBA) has announced the cancellation of the planned meeting for the National Small Business Development Center Advisory Board (NSBDCAB) originally scheduled for February 12, 2025. This decision, as noted in the Federal Register, is due to administrative priorities within the SBA. The public will be informed about the rescheduled meeting date in a future notice. For any inquiries, individuals can contact Rachel Karton at the provided email or phone number.

The U.S. Small Business Administration (SBA) has issued a notice about an Economic Injury Disaster Loan (EIDL) declaration for Louisiana following a Mass Casualty Incident. This declaration allows businesses affected by the disaster to apply for loans to address economic injuries. The incident period began on January 1, 2025, and the final date to submit loan applications is October 3, 2025. Orleans Parish is the primary area affected, with neighboring parishes Jefferson, Plaquemines, St. Bernard, and St. Tammany also included in the declaration.

The U.S. Small Business Administration (SBA) has issued an interim final rule implementing the Paycheck Protection Program (PPP) Second Draw Loans under section 311 of the Economic Aid Act. This program is designed to provide financial support to small businesses impacted by COVID-19 that already received a first PPP loan. Eligibility criteria include having 300 or fewer employees and experiencing a revenue decline of at least 25% compared to 2019. Second Draw PPP Loans have terms similar to the first draw loans and are eligible for loan forgiveness if conditions are met. Comments are invited until February 16, 2021.

The U.S. Small Business Administration issued an amendment to the Presidential declaration of a major disaster for the State of Alabama due to Hurricane Zeta, which occurred from October 28 to October 29, 2020. This amendment, dated January 27, 2021, now includes Lowndes County as an area affected by the disaster. Physical loan applications must be submitted by February 8, 2021, while the deadline for economic injury loan applications is September 10, 2021. The previous details of the declaration remain unchanged.

The U.S. Small Business Administration has issued an amendment to the Presidential declaration of a major disaster for certain areas in Kentucky due to severe weather conditions, including storms, winds, flooding, landslides, and mudslides that started on February 14, 2025. This amendment adds several counties to the list of those considered adversely affected by the disaster. Residents and businesses in these areas can apply for disaster assistance loans online through the SBA's loan portal. The deadlines for loan applications are May 5, 2025, for physical damage and December 4, 2025, for economic injury loans.