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The Entire United States and U.S. Territories; Military Reservist Economic Injury Disaster Loan Program (MREIDL)

89 Fed. Reg. 81614 (Oct. 8, 2024)

The Entire United States and U.S. Territories; Military Reservist Economic Injury Disaster Loan Program (MREIDL)

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Federal RegisterOct 8, 2024
89 Fed. Reg. 81614 (Oct. 8, 2024)
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    Small Business Administration
  • [Disaster Declaration Number #20713 Disaster Number ZZ-00020]

    • AGENCY:

    U.S. Small Business Administration.

    ACTION:

    Notice.

    SUMMARY:

    This is a notice of the Military Reservist Economic Injury Disaster Loan Program (MREIDL), dated 10/01/2024.

    DATES:

    Issued on 10/01/2024.

    MREIDL Loan Application Deadline Date: 1 year after the essential employee is discharged or released from active service.

    ADDRESSES:

    Visit the MySBA Loan Portal at https://lending.sba.gov to apply for a disaster assistance loan.

    FOR FURTHER INFORMATION CONTACT:

    Alan Escobar, Office of Disaster Recovery & Resilience, 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 10/01/2024 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.

    Applications for the Military Reservist Economic Injury Disaster Loan Program may be submitted online using the MySBA Loan Portal ( https://lending.sba.gov ).

    Please contact the SBA disaster assistance customer service center by email at disastercustomerservice@sba.gov or by phone at 1-800-659-2955 for further assistance.

    The interest rates are published quarterly in the Federal Register . The current rate for eligible small businesses is 4.000.

    The number assigned is 207130.

    (Catalog of Federal Domestic Assistance Number 59008)

    Francisco Sánchez, Jr.,

    Associate Administrator, Office of Disaster Recovery & Resilience.

    [FR Doc. 2024-23210 Filed 10-7-24; 8:45 am]

    BILLING CODE 8026-09-P