SBA Risk Statement Requested by Governor Mills Mandates Low-Interest Loans to Businesses and Non-Profit Organizations
Governor Janet Mills announced today that the US Small Business Administration (SBA) has approved her request to provide emergency funding to Maine businesses directly affected by the October 25 disaster in Lewiston.
Last week, the mills administration formally requested an SBA economic disaster loan statement as law enforcement searched for the Lewiston shooting in communities closed by shelter-in-place orders in Lewiston, Lisbon and Bowdoin last month. Suspect.
Today’s disaster announcement provides low-interest economic damage emergency loans of up to $2 million to qualified small businesses, small agricultural cooperatives, small agricultural businesses and private nonprofits in Androscoggin and Sagadahoc counties, as well as nearby Cumberland counties, Franklin, Kennebec. And Oxford.
“Thank you to the US Small Business Administration for quickly approving my request to help impacted businesses in Maine.” said Governor Janet Mills. “I encourage eligible Maine businesses to apply for this relief. My administration will continue to seek additional non-credit support for businesses affected by the disaster in Lewiston.
“SBA is ready to help Maine small business owners affected by the mass shooting in Lewiston, which tragically claimed lives and devastated neighborhoods.” said Isabel Casillas Guzman, administrator of the US Small Business Administration.. “With today’s announcement, we are committed to providing federal economic damage loans on land to help businesses and communities get the financial assistance they need to rebuild and rebuild their local businesses.”
The loan interest rate provided in the statement is 4 percent for businesses and 2.375 percent for non-profit organizations, which is up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial situation.
Loans can be used to pay off fixed debts, payroll, accounts payable, and other bills that would have been paid if the accident had not occurred. The SBA determines eligibility based on the applicant’s size, type of activity, and financial resources. The credits are not intended to replace lost sales or profits. Applicants may apply online through SBA’s secure website at sba.gov/disaster and must apply under SBA Statement #20075.
Disaster loan information and application forms are available by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard of hearing) or by emailing [email protected].
Applications will be accepted until August 6, 2024.
To help businesses affected by the disaster, the SBA will open a Business Recovery Center (BRC) in Lewiston at 11 a.m. Wednesday, Nov. 8 at the Lewiston-Auburn Metropolitan Chamber of Commerce at 415 Lisbon St., Suite 100. The center will be open Monday through Friday from 9:00 a.m. to 6:00 p.m., Saturday from 10:00 a.m. to 2:00 p.m. BRC will be closed on Friday, November 10 in observance of Veterans Day and permanently closed on Tuesday, November. 21, at 4:00 p.m
The Governor Mills SBA Disaster Loan application was developed and offered by the Maine Department of Economic and Community Development in partnership with the Lewiston-Auburn Metropolitan Chamber of Commerce and the City of Lewiston Department of Economic and Community Development.
In addition to requesting assistance from the SBA in response to the Lewiston tragedy, the Mills Administration has:
- It’s launched “Healing Together” – an online clearinghouse for Maine people seeking ways to help the Lewiston victims and their families, as well as mental health support for anyone affected by last week’s shooting.
- Created a website dedicated to behavioral health resources for Maine people, including talking to kids about gun violence online at Maine.gov/dhhs.
- Launched an online form for communities or organizations to request behavioral health assistance.
Mills administration continues to work closely with Lewiston area schools to ensure returning students and staff have full access to the services and support they need.