Businesses in Pennsylvania are being reminded by US Small Business Administration that they can apply for working capital loans till August 15th to cover the damages caused by storms and flooding that occurred in September 2010.

Businesses suffer economic losses whenever disaster of the intensity as that of the September storms strikes their life. The result is an obvious decline in business activity. The same happened during the onslaught of 2010 September storms and so entrepreneurs are asked to apply for low interest disaster loans by the SBA before August 15, 2011.

Economic Injury Disaster Loans (EIDLs) are available to businesses and that can range up to $2 million. The rates at which they are made available are 4 percent for small businesses and 3 percent for private non-profit organizations each having terms of 30 years. Fixed debts, accounts payable, payroll and other expenses are met with the help of such loans. EIDLs are made available to businesses and non-profit organizations in counties of Chester, Delaware, Gloucester in New Jersey, New Castle in Delaware, Montgomery and Philadelphia in Pennsylvania, etc.

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