SBA’s Disaster Loan Approvals Top $1 Million in Logan County; One Month Left to Apply for Assistance

Release Date: Thursday, April 19, 2012
Release Number: 12-438
Related State:
West Virginia
Field Operations Center: East
Contact: Michael Lampton
ATLANTA – The U. S. Small Business Administration approved more than $1.3 million in Disaster Assistance Loans for residents and business owners in Logan County, West Virginia affected by recent the severe storms, flooding, mudslides and landslides that occurred between March 15 and 31, 2012.  Anyone with insured losses should not wait for an insurance settlement before applying to the SBA.  The deadline to file an SBA disaster loan application for physical damage is May 21, 2012.
 
SBA encourages anyone who has not completed their disaster loan application to do so and return it as quickly as possible. “Currently, 24 home and business disaster loans have been approved in the amount of $1,376,300 for affected survivors,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.  “We are pleased to be able to get these loans approved so residents and businesses in the disaster area can continue to rebuild and resume their normal lives.” 
 
Interest rates are as low as 1.875 percent for homeowners and renters, 3 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years.  The SBA sets the loan amounts and terms based on each applicant’s financial condition.
 
For additional information, call the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or send an email to disastercustomerservices@sba.gov.  Loan application forms can be downloaded from the SBA’s website at www.sba.gov.  Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. 
 
Those affected by the disaster may also apply for disaster loans electronically from SBA’s website at https://disasterloan.sba.gov/ela/.
 
The filing deadline to return applications for physical damage is May 21, 2012.  The deadline to return economic injury applications is December 24, 2012.
 
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For more information about the SBA’s Disaster Loan Program, visit our website at www.sba.gov.  

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