SBA announces $2M in snow loans for Mass.

BOSTON – The U.S. Small Business Administration has made low-interest Economic Injury Disaster Loans available for Massachusetts small businesses and nonprofits impacted by last winter’s historic snowfall and freezing temperatures.

Up to $2 million in low-interest loans for working-capital needs are available to qualifying entities impacted by winter weather conditions between Jan. 26 and Feb. 22 in Barnstable, Bristol, Essex, Middlesex, Norfolk, Plymouth, Suffolk and Worcester counties. The rates are set at 4 percent for small businesses and 2.625 percent for nonprofit organizations with terms up to 30 years.

“The impact of unprecedented temperatures and snowfall is still being felt on main streets throughout the commonwealth,” Gov. Charlie D. Baker said in a statement.

Eligible organizations or businesses are encouraged to visit the SBA’s secure Electronic Loan Application website at disasterloan.sba.gov/ela.

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