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Disaster Press Releases

SD 14056-03 SBA Disaster Loan Outreach Centers in Canton, Elk Point and Wessington Springs to Close

SACRAMENTO, Calif. – Matt Varilek, Regional Administrator of the U. S. Small Business Administration (SBA), today reminded individuals and business owners who were affected by the severe storms, flooding, and tornadoes that occurred June 13 - 20, 2014, that the Disaster Loan Outreach Centers (DLOCs) in Canton, Elk Point and Wessington Springs will begin closing on Tuesday, July 29 in Elk Point. The Canton and Wessington Springs centers will close on Thursday, July 31.

“Until the centers close, SBA customer service representatives will continue to be available to meet with residents and business owners to answer their questions, explain SBA’s disaster loan program, help them complete their applications and close their approved disaster loans,” said Varilek.  Residents and business owners can meet with SBA representatives on the days and times indicated.  No appointment is necessary.

JERAULD COUNTY

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

Monday – Friday, 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

Wednesday & Thursday, 9 am – 6 pm
Friday, 9 am - 4 pm

Closes Thursday, July 31 at 6 pm

UNION COUNTY

Disaster Loan Outreach Center
Elk Point City Hall
106 W. Pleasant Street
Elk Point, SD  57025

Monday, 9 am – 6 pm
Tuesday, 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 14056-03
Release Date: 
Friday, July 25, 2014
Contact: 
Richard Jenkins (916) 735-1500
Related State: 
South Dakota
Field Operations Center: 
West