Two Weeks Left to Apply for SBA Physical Damage Assistance

ATLANTA, May 9 /PRNewswire-USNewswire/ — The U.S. Small Business Administration reminds homeowners, renters, non-profit organizations and businesses that only two weeks remain to apply for SBA disaster assistance for Physical damage caused by the severe storms and flooding March 7, 2008. The deadline to file an application for physical damage is May 27, 2008.

Homeowners, renters, non-profit organizations and businesses in the primary county of Columbia and contiguous counties of Alachua, Baker, Gilchrist, Hamilton, Suwannee, and Union in the State of Florida; and contiguous counties of Clinch and Echols in the State of Georgia are eligible to apply to SBA.

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

Interest rates are as low as 2.750 percent for homeowners and renters 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.

Disaster victims may obtain an application 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. to 8 p.m. EDT. Business loan applications can also be downloaded from the SBA website at http://www.sba.gov. 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 physical damage is May 27, 2008. The deadline to return economic injury applications is December 26, 2008.

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

SOURCE U.S. Small Business Administration