SBA to Provide Low-Interest Loans to Businesses Affected by December Ice Storm 

AUGUSTA – Governor Paul R. LePage has been informed that the Small Business Administration has issued an Economic Injury Disaster Loan (EIDL) declaration for the State of Maine, which will be used to address business losses suffered during December’s ice storm. 

“We’re thankful for the prompt response by the SBA,” Governor LePage said. “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 is specifically issued for Androscoggin, Cumberland, Hancock, Kennebec and Waldo Counties. However, because SBA programs also cover contiguous counties, the disaster loans will also be available in Franklin, Knox, Lincoln, Oxford, Penobscot, Sagadahoc, Somerset, Washington and York Counties.

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. 

The Governor’s request to the SBA was made on Friday, February 21. A decision on a request for FEMA disaster assistance, also made on the February 21, is likely to take several weeks.

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