Sacramento, CA – Dorothy Overal, District Director of the U. S. Small Business Administration’s (SBA) Oklahoma District office, today announced that SBA will close its Disaster Loan Outreach Center in Prague on Monday, January 30 at the close of business.
“SBA opened the center to provide personalized assistance to Oklahoma residents and business owners affected by the earthquakes that began November 5, 2011. Until the center closes, SBA customer services representatives will continue to be available to meet with residents and business owners to answer all of their questions, explain SBA’s disaster loan program, issue applications, help them complete their application and close their approved loans,” Overal said.
“So far, SBA has approved more than $1.4 million in low interest loans to homeowners and businesses that sustained damages from the earthquakes,” Overal continued.
Residents and business owners can meet with SBA representatives on the days and times indicated. No appointment is necessary.
Disaster Loan Outreach Center
Prague City Hall
820 N. Jim Thorpe Boulevard
Prague, OK 74864
Mondays through Fridays, 9 am to 6 pm
Closes Monday, January 30
Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
Businesses of any size and private, nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. SBA can also lend additional funds to homeowners and businesses to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.
For small businesses and most private, nonprofit organizations of any size and aquaculture businesses, 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 property damage.
Interest rates can be as low as 2.063 percent for homeowners and renters, 3 percent for private, nonprofit organizations and 4 percent for businesses, with terms up to 30 years. Loan amounts and terms are set by SBA and are based upon each applicant’s financial condition.
Applicants may apply online via SBA’s secure Web site at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling SBA at (800) 659-2955, emailing firstname.lastname@example.org, or visiting SBA’s Web site at www.sba.gov/services/disasterassistance. Individuals who are deaf or hard of hearing may call (800) 877-8339.
The filing deadline to return applications for property damage is February 6, 2012. The deadline to return economic injury applications is September 7, 2012.
For more information, visit SBA’s Web site at www.sba.gov.
SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841
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