SBA DISASTER LOAN ASSISTANCE TOPS $10 MILLION FOR AMERICAN SAMOA TSUNAMI VICTIMS

Release Date: Wednesday, January 13, 2010
Release Number: AS 11893-04
Related State:
American Samoa
Field Operations Center: West
Contact: Richard Jenkins (916) 735-1500

SACRAMENTO – Alfred E. Judd, Director of SBA’s Disaster Field Operations Center – West, announced today that SBA has approved more than $10 million in Federal disaster loans to American Samoa residents and business owners to help them recover from the earthquake, tsunami and flooding that occurred September 29, 2009.

In times of disaster, SBA disaster loans are the Federal government’s primary source of money for the long-term rebuilding of disaster-damaged private property. SBA disaster loans help pay the costs to repair or replace disaster-damaged homes and personal property, as well as the disaster-damaged property of businesses of all sizes and private, non-profit organizations.

“SBA has approved $6.2 million in disaster loans for American Samoa residents to repair or replace their disaster-damaged or destroyed homes and personal property. SBA has approved $3.8 million for American Samoa businesses and private, non-profit organizations to repair or replace their real estate, machinery, equipment, inventory, other business assets and to provide working capital to help meet disaster related needs,” Judd said. SBA disaster loans also provide funds to help residents and businesses with the cost of making improvements to prevent or minimize the same type of disaster damage from occurring in the future.

SBA responded to the needs of American Samoa residents and business owners by deploying 43 SBA disaster assistance workers to American Samoa to provide one-on-one service to disaster victims. SBA representatives staffed the Disaster Recovery Center, a Disaster Service Center and an SBA Loan Closing Center to assist disaster victims. To date, SBA representatives have had 10,843 visits from disaster victims to answer questions about SBA’s disaster loan program, help complete disaster loan applications and close disaster loans.

Although the application deadline to apply for property damage from this disaster has passed, small businesses and most, private non-profit organizations may still apply for SBA’s Economic Injury Disaster Loans (EIDL). These loans help meet working capital needs caused by the disaster and are available regardless of whether the business suffered any property damage. The application deadline for these working capital loans is June 29, 2010.

SBA disaster loan information and assistance is available by calling SBA’s Customer Service Center from 6 am to 12 noon using the local number (684) 633-0920, emailing disastercustomerservice@sba.gov or visiting SBA’s Web site at www.sba.gov/services/disasterassistance. Disaster victims may apply online via SBA’s secure Web site at https://disasterloan.sba.gov/ela.

SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841

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