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Less Than a Month to Apply for Disaster Assistance SBA Disaster Loan Deadline is February 3
ATLANTA - The U.S. Small Business Administration is reminding businesses that February 3 is the filing deadline for federal economic injury disaster loans that are available to small businesses as a result of the SBA declared disaster for freezing temperatures that occurred November 16, 2008 through
January 23, 2009.
These loans are available in the following counties: Bartow, Chattooga, Gordon, Murray and Walker; and the adjacent counties of Catoosa, Cherokee, Cobb, Dade, Fannin, Floyd, Gilmer, Paulding, Pickens, Polk, and Whitfield.
“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to assist small businesses, small agricultural cooperatives and most private non-profit organizations of all sizes affected by the same disaster,” said Frank Skaggs, director of SBA Field Operations Center East.
Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible entities that suffered financial losses as a direct result of this disaster. Farmers and ranchers are not eligible to apply to SBA.
Eligible small businesses and non-profit organizations may qualify for loans up to $2 million. These loans are available at a 4 percent interest rate with loan terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. Under this disaster declaration, the SBA cannot provide loans to agricultural producers.
Disaster loan information and application forms may be obtained by contacting the SBA’s Customer Service Center by calling 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Friday from 8 a.m. to 6 p.m. EST or by sending an e-mail to firstname.lastname@example.org. Loan applications can be downloaded from the SBA’s Web site at 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 Web site at https://disasterloan.sba.gov/ela/.
Completed loan applications must be returned to SBA no later than February 3, 2010.