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Small Business Administration News Release
CONTACT:Michael Lampton
, SBA
404-331-0333
Release Number: 10-570, VA 12040/12041
FOR RELEASE AT WILL
July 13, 2010
ATLANTA –The U.S. Small Business Administration adds Buena Vista City as an eligible area for disaster assistance. Private Non-Profit Organizations (PNPs) may apply for disaster damage assistance caused by a severe winter storm and snow storm that occurred on December 18-20, 2009 in Virginia.
The deadline for physical damage was April 19; however, eligible PNPs 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 may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/or leasehold improvements, as verified by the SBA, to make improvements that lessen the risk of property damage by future disaster of the same kind.
The SBA offers Economic Injury Disaster Loans to PNPs of all sizes to help meet working capital needs, such as ongoing operating expenses. Economic Injury Disaster Loan assistance is available regardless of whether the PNP suffered any physical property damage.
Interest rates are as low as 3 percent with terms up to 30 years. The SBA sets loan amounts and terms based on each applicant’s financial condition.
Disaster loan information and application forms may be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for people with speech and hearing disabilities) Monday through Friday from 8 a.m. to 6 p.m. (EDT) or by sending an e-mail to disastercustomerservice@sba.gov. Applications can also be downloaded from the SBA’s website at 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.
PNPs may visit SBA’s secure website at https://disasterloan.sba.gov/ela/ to apply for disaster loans.
The filing deadline to return applications for physical property damage expired April 19, 2010. The deadline to return economic injury applications is November 16, 2010.
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For more information about the SBA’s Disaster Loan Programs, visit our website at www.sba.gov