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Disaster Press Releases

SD 14056-02 SBA to Open Additional Disaster Loan Outreach Center in Elk Point

SACRAMENTO, Calif. – Matt Varilek, Regional Administrator of the U. S. Small Business Administration (SBA), today announced the opening of an additional Disaster Loan Outreach Center to meet the needs of individuals and business owners who were affected by severe storms, flooding and tornadoes that occurred June 13 - 20, 2014.  The center will be located at the Elk Point City Hall beginning Monday, July 21 in Elk Point.

“In addition to the Elk Point Location, SBA previously announced it will open Disaster Loan Outreach Centers in Canton and Wessington Springs.  Beginning Wednesday, July 16, SBA representatives will be on hand at all three centers to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application,” Varilek continued.  No appointment is necessary.  The locations and days and hours of operation are as follows:

JERAULD COUNTY
Disaster Loan Outreach Center
Jerauld County Ag Building
604 2nd Street NE
Wessington Springs, SD  57382

Opens Wednesday, July 16 at 12 pm

Mondays - Fridays
9 am – 6 pm
Closes Thursday, July 31 at 1 pm

LINCOLN COUNTY
Disaster Loan Outreach Center
Canton High School
800 N. Main Street
Canton, SD  57013

Opens Wednesday, July 16 at  9 am

Wednesdays & Thursdays, 9 am – 6 pm
Fridays, 9 am - 4 pm
Closes Thursday, July 31 at 6 pm

UNION COUNTY
Disaster Loan Outreach Center
Elk Point City Hall
106 West Pleasant Street
Elk Point, SD  57025

Opens Monday, July 21 at 9 am

Mondays, July 21 & July 28, 9 am – 6 pm
Tuesdays, July 22 & July 29, 9 am – 4 pm
Closes Tuesday, July 29 at 4 pm

SBA 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 2.188 percent for homeowners and renters, 2.625 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 or e-mailing disastercustomerservice@sba.gov.  Individuals who are deaf or hard-of-hearing may call (800) 877-8339.  For more information about SBA’s disaster assistance programs, visit http://www.sba.gov/disaster.

The filing deadline to return applications for property damage is September 12, 2014.  The deadline to return economic injury applications is April 14, 2015.

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

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Release Number: 
SD 14056-02
Release Date: 
Tuesday, July 15, 2014
Contact: 
Richard Jenkins (916) 735-1500
Related State: 
South Dakota
Field Operations Center: 
West