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SBA offers loans to businesses affected by Ventura Harbor closing

By   /   Tuesday, March 1st, 2016  /   Comments Off on SBA offers loans to businesses affected by Ventura Harbor closing

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The Small Business Development Center at 1603 Anchors Way in Ventura will provide loan counseling to businesses affected by the recent closure of the Ventura Harbor through March 3.

The U.S. Small Business Administration declared the closure a disaster, enabling it to provide assistance to businesses that experienced adverse financial impacts. Economic Injury Disaster Loans are available to businesses that were unable to pay things like fixed debts and payroll without experiencing hardship, acting Regional Administrator Victor Parker said in a news release.

“Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue they are experiencing,” Parker added.

Customer service representatives will help evaluate the best option for each small business according to its strengths and economic forecast and assist with loan applications if necessary.

A small nonfarm business, aquaculture business or agricultural cooperative that can demonstrate financial impact is eligible for a loan up to 30 years at a 4 percent interest rate. Nonprofits are eligible for interest rates of 2.625 percent.

The deadline to apply for up to $2 million in disaster loans is Nov. 25.

• Contact Marissa Nall at [email protected]

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