SBA issues economic disaster designation due to December ice storm

Posted March 03, 2014, at 10:53 a.m.

AUGUSTA, Maine –The Small Business Administration has issued an Economic Injury Disaster Loan declaration for Maine, which will be used to address business losses that occurred during December’s ice storm.

“We’re thankful for the prompt response by the SBA,” Gov. Paul R. LePage said in a government press release. “For those businesses that lost significant revenue during the Christmas season, this will be a resource for low-interest loans to supplement their cash flow.”

The SBA declaration was issued specifically for Androscoggin, Cumberland, Hancock, Kennebec and Waldo counties. Because SBA programs also cover contiguous counties, the disaster loans will be available in Franklin, Knox, Lincoln, Oxford, Penobscot, Sagadahoc, Somerset, Washington and York counties also.

The governor said information will be forthcoming from the SBA shortly on how businesses and nonprofit organizations affected by the ice storm can apply for a low-interest loan. Gov. LePage had submitted the request to the SBA, and to FEMA, on Feb. 21. The FEMA decision could take several weeks, according to the press release.

Those seeking a loan application should go to: www.sba.gov/disaster

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