85 FR 197 pg. 64212 - The Entire United States and U.S. Territories; Military Reservist Economic Injury Disaster Loan Program (MREIDL)
Type: NOTICEVolume: 85Number: 197Page: 64212
Page: 64212Docket number: [Disaster Declaration Number #16687 Disaster Number #ZZ-00016]
FR document: [FR Doc. 2020-22408 Filed 10-8-20; 8:45 am]
Agency: Small Business Administration
Official PDF Version: PDF Version
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SMALL BUSINESS ADMINISTRATION
[Disaster Declaration Number #16687 Disaster Number #ZZ-00016]
The Entire United States and U.S. Territories; Military Reservist Economic Injury Disaster Loan Program (MREIDL)
AGENCY:
U.S. Small Business Administration.
ACTION:
Notice.
SUMMARY:
This is a notice of the Military Reservist Economic Injury Disaster Loan Program (MREIDL), dated 10/01/2020.
DATES:
Issued on 10/01/2020.
MREIDL Loan Application Deadline Date: 1 year after the essential employee is discharged or released from active service.
ADDRESSES:
Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
FOR FURTHER INFORMATION CONTACT:
A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street SW, Suite 6050, Washington, DC 20416, (202) 205-6734.
SUPPLEMENTARY INFORMATION:
This notice establishes the application filing period for the Military Reservist Economic Injury Disaster Loan Program (MREIDL).
Effective 10/01/2020, small businesses employing military reservists may apply for economic injury disaster loans if those employees are ordered to perform active service for a period of more than 30 consecutive days, and those employees are essential to the success of the small businesses' daily operations.
The purpose of the MREIDL program is to provide funds to an eligible small business to meet its ordinary and necessary operating expenses that it could have met, but is unable to meet, because an essential employee was ordered to perform active service for more than 30 consecutive days in his or her role as a military reservist. These loans are intended only to provide the amount of working capital needed by a small business to pay its necessary obligations as they mature until operations return to normal after the essential employee is released from active service. For information/applications contact 1-800-659-2955 or visit www.sba.gov.
Applications for the Military Reservist Economic Injury Disaster Loan Program may be filed at the above address.
The Interest Rate for eligible small businesses is 3.000.
The number assigned is 166870.
(Catalog of Federal Domestic Assistance Number 59008)
Cynthia Pitts,
Acting Associate Administrator for Disaster Assistance.
[FR Doc. 2020-22408 Filed 10-8-20; 8:45 am]
BILLING CODE 8026-03-P