SBA Reminds Mississippians of Upcoming July 11 Deadline

More Than $5 Million Approved in Disaster Loans ATLANTA – The U.S. Small Business Administration is reminding homeowners, renters and businesses, who received low-interest disaster loan applications for physical damage to complete and return them prior to the deadline of July 11, 2011. The SBA has approved more than $5 million in Disaster Assistance Loans for Mississippi residents and business owners affected by the flooding that occurred from May 3 through June 17, 2011. “Currently, we have approved $5,190,800 for individuals and businesses in Mississippi,” said Frank Skaggs, director of SBA Field Operations Center East in Atlanta.  “We are pleased to get these loans approved so the people of Mississippi can start rebuilding and resuming their normal lives.” The SBA offers disaster loans up to $200,000 for a primary residence, $40,000 for personal property and $2 million for businesses and nonprofits.  Interest rates are as low as 2.688 percent for homeowners and renters, 3 percent for non-profits and 4 percent for businesses. Survivors in the declared counties are urged to register with FEMA by calling 800-621-FEMA (3362) or TTY 800-462-7585.  Those who received SBA applications are encouraged to return them even if they do not want a loan. If the SBA is not able to approve a home loan, the individual may be referred to FEMA for possible grant assistance. Approved loans can be increased for protective measures to lessen similar future damages.  Additionally, small businesses and most private nonprofit organizations can obtain loans for unmet working capital needs. Disaster loan information and application forms may be obtained by calling the Customer Service Center at 800-659-2955 (800-877-8339 for people with speech or hearing disabilities) Monday through Friday from 8 a.m. to 6 p.m. ET or by sending an email to disastercustomerservice@sba.gov. Applications can also be downloaded from www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155. Survivors may visit SBA’s website at https://disasterloan.sba.gov/ela/ to apply for disaster loans. The filing deadline to return applications for physical property damage is July 11, 2011. The deadline to return economic injury applications is February 13, 2012. For more information about the SBA’s Disaster Loan Program, visit our website at www.sba.gov.]]]]> ]]>