ATLANTA, July 29 SBA-IN-disaster-loan
Small Business Owners Still Have Time to Apply
ATLANTA, July 29 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration is reminding businesses that August 27 is the filing deadline for federal economic injury disaster loans that are available to small businesses located in the following primary counties in the State of Indiana: Adams, Allen, Bartholomew, Blackford, Bonne, Brown, Carroll, Cass, Clark, Clay, Clinton, Crawford, Daviess, Dearborn, Decatur, DeKalb, Delaware, Dubois, Elkhart, Fayette, Floyd, Franklin, Fountain, Fulton, Gibson, Grant, Greene, Hamilton, Hancock, Harrison, Hendricks, Henry, Howard, Huntington, Jackson, Jay, Jefferson, Jennings, Johnson, Knox, Kosciusko, Lagrange, Lawrence, Madison, Marion, Marshall, Martin, Miami, Monroe, Montgomery, Morgan, Noble, Ohio, Orange, Owen, Parke, Perry, Pike, Posey, Pulaski, Putnam, Randolph, Ripley, Rush, Scott, Shelby, Spencer, St. Joseph, Starke, Steuben, Sullivan, Switzerland, Tipton, Union, Vanderburgh, Vermillion, Vigo, Wabash, Warren, Warrick, Washington, Wayne, Wells and Whitley.
"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 affected by the same disaster," said Frank Skaggs, Director of SBA Field Operations Center East.
Under this declaration, SBA's Economic Injury Disaster Loan program is available to farm-related and nonfarm-related, small business concerns and small agricultural cooperatives that suffered financial losses as a direct result of extended drought conditions that occurred June 5 through November 7, 2007. Farmers and ranchers are not eligible to apply to SBA, but nurseries are eligible to apply for economic injury disaster loans for losses caused by drought conditions.
Eligible small businesses may qualify for loans up to $1.5 million. These loans are available at a 4 percent interest rate with loan terms up to 30 years. SBA determines eligibility for the program based on the size and type of business and its financial resources. Loan amounts and terms are set by SBA and are based upon each applicant's financial condition. Under this disaster declaration, SBA cannot provide loans to agricultural producers.
Interested business owners should contact 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 9 p.m., and Saturday and Sunday from 9 a.m. to 6 p.m. EDT or by emailing our customer service center at disastercustomerservice@sba.gov. Business loan applications can also be downloaded from the SBA website 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.
The deadline to return applications for economic injury is August 27, 2008.
For more information about the SBA's Disaster Loan Programs, visit our website at www.sba.gov/services/disasterassistance
SOURCE U.S. Small Business Administration
