Disaster
News
Loans
for Homeowners, Renters and Businesses of All Sizes
SBA Disaster Assistance – Field
Operations Center- East – 101
Release Date:
June 10, 2009 Contact: Michael Lampton
Release Number:
09-503,
SBA Offers Disaster Assistance to Alabama
Affected by Severe Storms and Tornadoes
Administrator Mills made the loans available in
response to a request from
Governor Bob Riley on June 5, for a disaster declaration by the SBA. The declaration
covers DeKalb and
“The SBA is strongly committed to providing the most
effective and customer-focused response possible to assist homeowners, renters,
and businesses of all sizes with federal disaster loans,” said Mills. “Getting our businesses and communities up
and running after a disaster is our highest priority at SBA.”
“Loans up to $200,000 are available
to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to
$40,000 to repair or replace damaged or destroyed personal property,” said Frank
Skaggs, Director of SBA’s
The Center will be located in the following
community and will open as indicated:
Opening: Friday,
June 12, at 12 noon
Closed: Saturday, June 13 and Sunday, June 14
Open: Monday, June 15 – Thursday, June 18 from 8 a.m. to 5 p.m.
Closing: Thursday, June 18 at the close of business
-more-
Page 2
SBA Offers Disaster Assistance to Alabama
Affected By Severe Storms and Tornadoes
Tom Todt, SBA’s Alabama
District Director, added, “Low-interest Federal disaster loans are available to
homeowners, renters, businesses and non-profit organizations of all sizes whose
property was damaged or destroyed by the severe storms and tornadoes.”
Businesses and non-profit organizations of any
size may borrow up to $2 million to repair or replace damaged or destroyed real
estate, machinery and equipment, inventory, and other business assets.
The
SBA also provides mitigation funds to disaster victims based on 20 percent of
the verified physical damage. These
funds are designed to help borrowers pay for protective measures to minimize
damages of the same kind in the future.
For small businesses, and most private, non-profit
organizations of all sizes, the SBA offers Economic Injury Disaster Loans (EIDLs)
to help meet working capital needs caused by the disaster.
EIDL assistance is available regardless of whether the business suffered any physical
property damage.
Interest rates are as low as 2.187 percent for homeowners and renters,
and 4 percent for businesses, with terms up to 30 years. Loan amounts and
terms are set by the SBA and are based on each applicant’s financial condition.
Individuals and businesses unable to visit the Center in person may
obtain information and loan applications by calling the SBA’s Customer Service
Center at 1-800-659-2955 (1-800-877-8229 for the hearing impaired), Monday
through Friday from 8 a.m. to 9 p.m. EDT or by sending an email to disastercustomerservice@sba.gov. Business loan applications can also be
downloaded from the SBA website at www.sba.gov/services/disasterassistance. Completed applications should be returned to
the Center or mailed to: U.S. Small
Business Administration, Processing and
Victims may apply for disaster loans from SBA’s secure website at https://disasterloan.sba.gov/ela/.
The filing deadline to return applications for physical
property damage is August 10, 2009.
The deadline to return economic injury applications is March 9, 2010.
###
For
more information about the SBA’s Disaster Loan Programs, visit our website at www.sba.gov/services/disasterassistance.