2017 Hurricane Recovery: You may be eligible for an SBA loan deferment

Additional Areas in Virginia Included in SBA Disaster Declaration

ATLANTA – The U.S. Small Business Administration adds the cities of Fredericksburg and Roanoke and the counties of Craig, Roanoke and Tazewell as eligible areas for disaster assistance. Private Non-Profit Organizations (PNPs) may apply for disaster damage assistance caused by a severe winter storm and snowstorm that occurred on Dec. 18 - 20, 2009.

The deadline for physical damage is April 19; however, eligible PNPs in the newly added areas may apply under the SBA’s late filing guidelines, provided they show the reason for the late filing was due to circumstances beyond their control. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.

PNPs 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 also provides mitigation funds to disaster victims based on 20 percent of the verified physical damage. These funds are designed to help borrowers pay for protective measures to minimize damages of the same kind in the future.

The SBA offers Economic Injury Disaster Loans to help meet working capital needs, such as ongoing operating expenses for PNP organizations of all sizes. Economic Injury Disaster Loan assistance is available regardless of whether there was any physical property damage. Interest rates are as low as 3 percent with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

Disaster loan information and application forms may be obtained by calling the SBA’s Disaster Assistance Customer Service Center at 800-659-2955 (for the hearing-impaired 800-877-8339) Monday through Friday from 8 a.m. to 6 p.m. and Saturday from 9 a.m. to 5:30 p.m. EDT or by sending an e-mail to disastercustomerservice@sba.gov. Applications can also be downloaded from www.sba.gov/services/disasterassistance. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. Those affected by the disaster may apply for disaster loans from SBA’s secure website at https://disasterloan.sba.gov/ela/.

The deadline to return economic injury applications is November 16, 2010. The filing deadline to return applications for physical property damage expired April 19, 2010.

Release Number: 
10-335, VA 12040/12041
Release Date: 
Monday, April 19, 2010 - 4:00am
Michael Lampton 404-331-0333
Related State: 
Field Operations Center: