MOBILE, Ala., Aug. 1 /PRNewswire/ -- More than $135 million in U. S.
Small Business Administration Disaster Assistance Loans have been approved
for over 2,880 residents and business owners in Alabama who were affected
by Hurricane Katrina.
"As a major partner in the disaster recovery process, we are pleased to
be able to get these loans approved so the residents of Alabama can
continue to rebuild and return their lives to some sense of normalcy," said
Frank Skaggs, Director of SBA Field Operations Center East.
In Alabama, the SBA has approved 2,885 disaster loans for $136,876,000.
The interest rates for these loans are as low as 2.687 percent for
homeowners and renters and 4.000 percent for businesses with loan terms up
to 30 years. Economic Injury Disaster Loans (EIDLs) are available to small
businesses unable to pay bills or meet operating expenses because of the
disaster with loan limits up to $1.5 million. Actual loan amounts and terms
are set by the SBA, and are based on each applicant's financial condition.
Program information is available by calling SBA's Customer Service
Center at 800-659-2955 Monday through Saturday during the hours of 8:00 AM
to 9:00 PM EDT or you may visit SBA Website at http://www.sba.gov/disaster.
The filing deadlines have expired for both types of applications;
physical damage loan applications expired March 11, 2006 and economic
injury loan applications expired May 29, 2006.
For more information about the SBA's Disaster Loan Programs, visit our
website at http://www.sba.gov/disaster.
SOURCE U.S. Small Business Administration
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Related links:
http://www.sba.gov/
CONTACT:
Michael Lampton of U.S. Small Business
Administration, +1-404-347-3771
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