Release Date:  March 3, 2008

SBA Disaster Loans

ATLANTA – The U.S. Small Business Administration announces today that due to the level of activity, the Disaster Loan Outreach Centers in Autauga, Lawrence and Walker Counties will remain open until March 13.  The Centers will be open 9 a.m. to 5:30 p.m. Monday, March 3 through Friday, March 7 and Monday, March 10 through Thursday, March 13 at which time the Centers will cease operation.    

The SBA offers loans up to $40,000 for renters and homeowners to repair or replace disaster damaged personal property such as furniture and clothing. Homeowners are eligible for loans up to $200,000 to repair disaster damaged primary residences. Loans to businesses of all sizes and non-profit organizations are available up to $1.5 million to repair damage to real estate, machinery, equipment and inventory. Economic Injury Disaster Loans are also available to small businesses unable to pay bills or meet operating expenses.

Interest rates are as low as 2.750 percent for renters and homeowners and 4.000 percent for businesses with terms up to 30 years.  Loan amounts and terms are set by SBA and are based upon each applicant’s financial condition.

Anyone unable to visit the Disaster Loan Outreach Centers may obtain applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired), Monday through Friday from 8 a.m. until 9 p.m., and Saturday and Sunday 9 a.m. to 5 p.m. EST.  Applications may be obtained, completed and returned to the Disaster Loan Outreach Centers or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas 76155. Business loan applications can also be downloaded from the SBA website at www.sba.gov.

The application deadline for Physical damage for declarations #11174/#11175 and #11176/#11177
is April 21, 2008; the deadline for economic injury applications is November 21, 2008.

For more information about the SBA’s Disaster Loan Programs, visit our website at www.sba.gov.