Sacramento, CA – Low-interest federal disaster loans are now available to Alaska residents and business owners affected by the winter storm at Prince William Sound from January 6 – 10, 2012, U. S. Small Business Administration (SBA) Administrator Karen G. Mills announced today. SBA acted under its own authority to declare a disaster in response to a request SBA received from Gov. Sean Parnell on March 8.
The disaster declaration makes SBA assistance available in the following areas: Chugach REAA, Copper River REAA, Kenai Peninsula Borough, Matanuska-Susitna Borough, Municipality of Anchorage, and the City and Borough of Yakutat.
“The U. S. Small Business Administration is strongly committed to providing Alaskans with the most effective and customer-focused response possible, and we will be there to provide access to federal disaster loans to help finance recovery for residents and businesses affected by the disaster,” said Mills. “Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”
“Low-interest federal disaster loans are available to homeowners, renters, businesses of all sizes and private, nonprofit organizations whose property was damaged or destroyed by this disaster,” said SBA’s Alaska District Director Karen N. Forsland. “Beginning Wednesday, March 14, SBA representatives will be on hand at the following Disaster Loan Outreach Centers to issue loan applications, answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application,” Forsland continued. The centers will be open on the days and times indicated. No appointment is necessary.
Cordova Disaster Loan Outreach Center
Cordova Historical Museum
(Centennial Building)
622 1st Street
Cordova, AK 99574
Opens Wednesday, March 14, 2:30 pm
Hours: 2:30 pm - 5:30 pm, Monday thru Friday
(closed Saturday and Sunday)
Closes Wednesday, March 21 at 5:30 pm
Valdez Disaster Loan Outreach Center
Valdez Consortium Library
202 Fairbanks Drive
Valdez, AK 99686
Opens Wednesday, March 14, 2:30 pm
Hours: 2:30 pm - 5:30 pm, Monday thru Friday
(closed Saturday and Sunday)
Closes Wednesday, March21 at 5:30 pm
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, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations of any size, 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 on each applicant’s financial condition.
Applicants may apply online using the Electronic Loan Application (ELA) 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 (800) 659-2955, emailing disastercustomerservice@sba.gov 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 May 14, 2012. The deadline to return economic injury applications is December 13, 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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