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Disaster Press Releases

OK 13586-03 SBA Approves $25 Million in Disaster Loans For Oklahoma Residents and Businesses

SACRAMENTO – U.S. Small Business Administration (SBA) Oklahoma District Director Dorothy Overal announced today that SBA has approved more than $25.2 million in federal disaster loans for Oklahoma homeowners, renters and businesses who sustained damage from the severe storms and tornadoes that occurred May 18 - June 2, 2013.

“SBA’s disaster assistance employees are committed to helping Oklahoma residents rebuild their homes and businesses as quickly as possible,” said Overal.  Individuals and business owners who sustained property damage are encouraged to first register with the Federal Emergency Management Agency (FEMA) prior to the July 19, deadline by calling the tele-registration number at (800) 621 3362.  Individuals who are deaf or hard-of-hearing may call TTY (800) 462-7585.  “Don’t miss out on any assistance you may be entitled to by not registering for help,” Overal added.

SBA representatives are still at the following locations to issue loan applications, answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application. No appointment is necessary.

CANADIAN COUNTY
Disaster Recovery Center
Jenks Simmons Field House
214 North Country Club Road
El Reno, OK  73036
Mondays through Saturdays
   9 am to 6 pm
Closes Saturday, July 13 at 6:00 pm

This location transitions to an SBA Disaster Loan Outreach Center (DLOC) on Monday, July 15.

Open Mondays through Fridays
   9 am to 6 pm
 

CLEVELAND COUNTY
Business Recovery Center
Moore Norman Technology Center
South Penn Campus
13301 South Pennsylvania Avenue
   once on campus proceed to:
Business Development Center Building
13101 South Pennsylvania Avenue
Oklahoma City, OK  73170

Open Mondays through Fridays
   9 am to 6 pm
Saturdays, 9 am to 1 pm
 

CLEVELAND COUNTY
Disaster Recovery Center
Capitol Hill Baptist Church
Gymnasium
(park in rear for easy access to gym)
304 South West 134th Street
Oklahoma City, OK 73170

Open Mondays and Tuesdays
   9 am to 6 pm
Wednesdays, 9 am to 5 pm
Thursdays through Saturdays
   9 am to 6 pm

Disaster loans up to $200,000 are available to homeowners to repair or replace their damaged or destroyed primary residence.  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.  The SBA can also lend additional funds to help homeowners and business owners 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 1.875 percent for homeowners and renters, 4 percent for businesses, and 2.875 percent for private nonprofit organizations, 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 for an SBA disaster loan online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela. 

Residents and business owners may obtain information on SBA disaster loans by calling SBA’s Customer Service Center toll-free at (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.

 


SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841
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Release Number: 
OK 13586-03
Release Date: 
Thursday, July 11, 2013
Contact: 
Richard Jenkins (916) 735-1500
Related State: 
Oklahoma
Field Operations Center: 
West