The U.S. Small Business Administration is reminding small businesses in Florida that they are eligible for economic injury disaster loans because of the BP oil spill. The deadline to apply for SBA economic injury loans is February 14th, 2011. The SBA is offering working capital loans up to $2 million at 4 percent interest with terms up to 30 years. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that could have been paid had the oil spill not occurred. The SBA also encourages businesses to file claims with BP as the BP money could be used to help repay the SBA disaster loans. For more information call the SBA’s Customer Service Center at 1- 800-659-2955. Business loan applications can be downloaded from the SBA website at www.sba.gov.

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