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OK 14681-01 SBA Offers Disaster Assistance to Oklahoma Businesses and Residents Affected by the Severe Winter Storms and Flooding

SACRAMENTO, Calif. – Low-interest federal disaster loans are available to Oklahoma businesses and residents affected by the severe winter storms and flooding that occurred Dec. 26, 2015 – Jan. 5, 2016, U.S. Small Business Administration (SBA) Administrator Maria Contreras-Sweet announced today. SBA acted under its own authority to declare a disaster following the denial of the state’s appeal for a major disaster declaration for individual assistance. 

The disaster declaration makes SBA assistance available in Adair, Cherokee, Craig, Delaware, Mayes, Muskogee, Ottawa, Rogers, Sequoyah, and Wagoner counties in Oklahoma; Cherokee County in Kansas; and McDonald and Newton counties in Missouri.

“SBA is strongly committed to providing Oklahoma with the most effective and customer-focused response possible, and we will be there to provide access to federal disaster loans to help finance recovery for businesses and residents affected by the disaster,” said Contreras-Sweet. “Getting our businesses and communities up and running after a disaster is our highest priority at SBA.” 

“Low-interest federal disaster loans are available to businesses of all sizes, most private nonprofit organizations, homeowners and renters whose property was damaged or destroyed by this disaster,” said SBA’s Oklahoma District Director Dorothy Overal. “Beginning Monday, April 4, 2016, SBA representatives will be on hand at the following Disaster Loan Outreach Centers to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application,” Overal continued. The centers will be open on the days and times indicated. No appointment is necessary.

CHEROKEE COUNTY
Tahlequah Police Department
Cherokee County Emergency Operations Center
100 Phoenix Ave.
Tahlequah, OK  74464

Opens at 9 a.m. Monday, April 4
Mondays - Fridays, 9 a.m. – 6 p.m.(Closed daily 1-2 p.m.)
Center closes at 6 p.m. Thursday, April 14

MAYES COUNTY
Mayes County Courthouse
First Floor Meeting Room
1 Court Place
Pryor, OK  74361

Opens at 9 a.m. Monday, April 4
Mondays, Tuesdays, and Wednesdays
April 4-6 and April 11-13 
9 a.m. – 6 p.m. (Closed daily 1-2 p.m.)
Center closes at 6 p.m. Wednesday, April 13

OTTAWA COUNTY
Wyandotte Community Center
212 South Main St.
Wyandotte, OK  74370

Opens at 9 a.m. Thursday, April 7
Thursdays and Fridays, April 7-8 and April 14-15
9 a.m. – 6 p.m. (Closed daily 1-2 p.m.)
Center closes at 6 p.m. Friday, April 15

Businesses of all sizes 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 businesses and homeowners to help with the cost of improvements to 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.

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.

Interest rates can be as low as 4 percent for businesses, 2.625 percent for private nonprofit organizations and 1.813 percent for homeowners and renters 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 website 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 emailing disastercustomerservice@sba.gov. Individuals who are deaf or hard of hearing may call (800) 877-8339. For more disaster assistance information or to download applications, visit http://www.sba.gov/disaster. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

The filing deadline to return applications for property damage is May 31, 2016. The deadline to return economic injury applications is Dec. 29, 2016.

Release Number: 
OK 14681-01
Release Date: 
Wednesday, March 30, 2016 - 6:00pm
Contact: 
Richard Jenkins (916) 735-1500
Related State: 
Oklahoma
Field Operations Center: 
West