SBA Disaster Assistance Tops $50 Million in Georgia; Economic Injury Funds Still Available for Affected Businesses

(BUSINESS WIRE)--The U.S. Small Business Administration (SBA) announced December 4 that it approved over $50 million in federal low-interest disaster loans to Georgia homeowners, renters and businesses that sustained damages as a result of the severe storms and flooding that occurred from September 18 through October 8, 2009 in Georgia.

“Currently, 1,417 SBA disaster loans for homes and businesses have been approved in the amount of $50,333,900 for affected victims,” said Frank Skaggs, Director of SBA’s Field Operations Center East. “We are pleased to be able to approve these loans so the residents and businesses of Georgia can start to rebuild and resume their normal lives.”

Small businesses and most private non-profit organizations of all sizes in the following counties still have time to apply for Economic Injury Disaster Loans (EIDLs): Banks, Barrow, Bartow, Butts, Carroll, Catoosa, Chattooga, Cherokee, Clayton, Cobb, Coweta, Dade, Dawson, DeKalb, Douglas, Fayette, Floyd, Forsyth, Franklin, Fulton, Gordon, Gwinnett, Habersham, Hall, Haralson, Heard, Henry, Jackson, Jasper, Meriwether, Morgan, Newton, Paulding, Pickens, Polk, Rockdale, Spalding, Stephens, Troup, Walker, Walton and Whitfield in Georgia; Cherokee, Cleburne, DeKalb and Randolph in Alabama; Oconee in South Carolina; and Hamilton County in Tennessee.

EIDLs are designed to help meet working capital needs caused by the disaster and are available regardless of whether the business suffered any physical property damage. The interest rate is 4 percent and the maximum loan term is 30 years. The SBA sets loan amounts and terms based on each applicant’s financial condition.

Anyone affected by the disaster may obtain applications and program information by calling the SBA’s Customer Service Center at 1-800-659-2955 (or 1-800-877-8339 for the hearing impaired) Monday through Friday, 8 a.m. to 9 p.m. EST, or by sending an e-mail to disastercustomerservice@sba.gov. Business loan applications may be downloaded from www.sba.gov/services/disasterassistance. Applications may be returned to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas 76155.

Disaster victims may visit SBA’s secure Web site at https://disasterloan.sba.gov/ela/ to apply for disaster loans.

The filing deadline for physical property damage expired November 23, 2009. The deadline to return economic injury applications is June 24, 2010.

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