SBA's Disaster Assistance Deadline for Physical Damage Is December 1

October 26, 2009 1:09 PM EDT

ATLANTA--(BUSINESS WIRE)-- The U.S. Small Business Administration reminds homeowners, renters, businesses and non-profit organizations of the deadline to submit disaster loan applications for physical damage caused by the severe storms, straight-line winds and flooding that occurred from July 6 - 7, 2009 in New York. The deadline to file an application for physical damage is December 1, 2009.

Homeowners, renters, non-profit organizations and businesses of all sizes in Westchester County and the adjacent counties of Bronx, Orange, Putnam, and Rockland in New York; Fairfield County in Connecticut and Bergen County in New Jersey are eligible to apply for physical disaster assistance.

The 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 and non-profit organizations of all sizes are available up to $2 million to repair or replace damage to real estate, machinery, inventory and equipment.

SBA Economic Injury Disaster Loans (EIDLs) are available to small businesses and most private non-profit organizations of all sizes to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage.

Interest rates are as low as 2.437 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 on each applicant's financial condition.

The SBA also offers mitigation funds to disaster victims up to 20 percent of the verified physical damage. These funds are designed to help borrowers pay for protective measures which may prevent damages of the same kind in the future.

To obtain program information or a loan application, call the SBA's Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Saturday from 8 a.m. until 9 p.m. EDT or send an email to disastercustomerservice@sba.gov. Business loan applications can also be downloaded from the SBA Web site 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.

Those affected by the disaster may apply for disaster loans from SBA's secure Web site at https://disasterloan.sba.gov/ela/.

The filing deadline to return applications for physical damage is December 1, 2009. The deadline to return economic injury applications is July 2, 2010.

For more information about the SBA's Disaster Loan Programs, visit our Web site at www.sba.gov/services/disasterassistance.

Release Number: 10-051, NY 11891/11892

    Source: U.S. Small Business Administration

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