Less Than Two Weeks Remain to Apply for SBA Disaster Loan Assistance

• Press Release
• Source: U.S. Small Business Administration
• On 10:09 am EST, Tuesday November 10, 2009

ATLANTA--(BUSINESS WIRE)--The U.S. Small Business Administration reminds homeowners, renters, businesses and non-profit organizations that there are less than two weeks left to submit disaster loan applications for physical damage caused by the September 18 through October 8, 2009 severe storms and flooding in Georgia. The deadline to file an application for physical damage is November 23, 2009.

Homeowners, renters, businesses and non-profit organizations of all sizes in the following counties in Georgia are eligible to apply for both SBA’s Physical and Economic Injury Disaster Loans (EIDLs): Bartow, Carroll, Catoosa, Chattooga, Cherokee, Cobb, Coweta, DeKalb, Douglas, Fulton, Gwinnett, Heard, Newton, Paulding, Rockdale, Stephens and Walker. Victims who suffered damage to their automobiles in these counties may be eligible for SBA disaster assistance loans.

SBA offers EIDLs to help meet working capital needs of small businesses, and most private non-profit organizations of all sizes. Small businesses and most private non-profit organizations in the following counties are eligible to apply only for Economic Injury Disaster Loans: Banks, Barrow, Butts, Clayton, Dade, Dawson, Fayette, Floyd, Forsyth, Franklin, Gordon, Habersham, Hall, Haralson, Henry, Jackson, Jasper, Meriwether, Morgan, Pickens, Polk, Spalding, Troup, Walton and Whitfield in Georgia; Cherokee, Cleburne, DeKalb and Randolph in Alabama; Oconee in South Carolina; and Hamilton County in Tennessee. EIDL assistance is available regardless of whether the business suffered any property damage.

Homeowners and businesses may be eligible for refinancing of existing liens or mortgages on the damaged property, and may use SBA disaster loans to relocate. To obtain additional details contact SBA Customer Service Center at 1-800-659-2955.

The SBA offers loans up to $200,000 to repair disaster damaged primary residences. Homeowners and renters are eligible for loans up to $40,000 to replace personal property such as furniture, appliances and clothing. Loans to businesses and non-profit organizations of all sizes are available up to $2 million to repair damage to real estate, machinery, inventory and equipment.

Interest rates are as low as 2.750 percent for homeowners and renters and 4 percent for businesses with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

SBA encourages anyone who has not completed their disaster loan application and needs help to meet with a Customer Service Representative at one of the Centers located throughout the disaster area for one-on-one assistance.

The Centers are located in the following communities:

Anyone unable to visit one of the Centers may obtain program information or a loan application by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Friday from 8 a.m. until 9 p.m. EST or by sending an email to disastercustomerservice@sba.gov. Business loan applications can also be downloaded from the SBA Web site at www.sba.gov/services/disasterassistance. Completed applications should be returned to one of the Centers or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX. 76155.

Those affected by the disaster may apply for disaster loans from SBA’s secure Web site at https://disasterloan.sba.gov/ela/.

The filing deadline to return applications for physical damage is November 23, 2009. The deadline to return economic injury applications is June 24, 2010.

For more information about the SBA’s Disaster Loan Programs, visit our Web site at www.sba.gov/services/disasterassistance.

Release Number: 10-078, GA 11886/11887

U.S. Small Business Administration
Michael Lampton, 404-331-0333