WASHINGTON, Aug. 30 /PRNewswire/ -- Following the announcement of
Presidential disaster declarations in Alabama, Louisiana and Mississippi as a
result of Hurricane Katrina, SBA Administrator Hector V. Barreto issued the
following statement:
"Our hearts go out to the victims of Hurricane Katrina. The U.S. Small
Business Administration is ready to assist those hurt by this powerful storm.
As a result of President Bush's declaration of a federal disaster we will be
swift in our efforts, along with our partners at the Federal Emergency
Management Agency, to help people rebuild their lives. SBA officials will be
in the affected cities and communities very soon to begin offering our
assistance.
"SBA has always had a strong commitment to disaster victims. To show our
continued commitment to hurricane victims, SBA will have loan officers in
every federal/state disaster recovery center that is opened. SBA is also
prepared to provide help in other states in the eastern half of the country
where this powerful storm may also lead to disaster area declarations. We've
been there before, and we're ready to provide recovery aid again," Barreto
said.
After an unprecedented four hurricanes struck Florida and 13 other states
last summer, the SBA approved more than $2.1 billion in disaster loans to
about 64,500 residents and business owners in the disaster areas.
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 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, equipment and inventory. Economic
Injury Disaster Loans (EIDLs) are also available to small businesses unable to
pay bills or meet operating expenses.
Interest rates can be as low as 2.68 percent for homeowners and renters
and 4 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.
Residents and business owners in the affected areas can begin the disaster
application process by registering online with FEMA at http://www.fema.gov, or
by calling 1-800-621-FEMA (3362), or 1-800-462-7585 (TTY) for the hearing and
speech impaired. The toll-free numbers will operate 24 hours daily until
further notice. Details on the location of recovery centers and loan
application deadlines will be provided as the information becomes available.
For more information, visit SBA's Web site at http://www.sba.gov/disaster.
SOURCE U.S. Small Business Administration
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Related links:
http://www.sba.gov
http://www.fema.gov
CONTACT:
Michael Lampton, +1-817-868-2300 (LA), Frank
Adinolfe or Matt Young, +1-404-347-3771, (AL, MS) all of the U.S.
Small Business Administration
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