[Archived] U.S. Small Business Administration to Help With Hurricane Recovery

City Press Release


	City of Alexandria, Virginia Office of the City Manager Alexandria City Hall 301 King Street, Suite 3500 Alexandria, Virginia 22314-3211 www.alexandriava.gov Telephone: 703.838.4300 Fax : 703.838.6343

Beginning today, Sept. 24, the U.S. Small Business Administration (SBA) has set up Hurricane Isabel Recovery Assistance at the Nannie J. Lee Center, 1108 Jefferson St. SBA representatives will issue loan applications and provide information about its disaster loan program from 9 a.m. to 6 p.m.

Business Disaster Loans cover uninsured or otherwise uncompensated losses. Interest rates can be as low as 3.1% with terms extending up to 30 years. SBA can provide disaster loans to businesses of all sizes and nonprofit organizations up to $1.5 million to repair disaster-damaged real estate, machinery, equipment, and inventory. Economic Injury Disaster Loans (EIDL) are also available to eligible small businesses to provide needed working capital until normal operations resume.

For homeowners, SBA also offers up to $200,000 to repair disaster-damaged primary residences. Both homeowners and renters are eligible for up to $40,000 to replace personal property. Interest rates for homeowners can be as low as 2.562%.

Individuals are urged to meet with the SBA representatives at the Lee Center, and if that’s not possible, call FEMA at 1-800-621-FEMA to register. Additional information is available at FEMA’s website, www.fema.gov.

The Alexandria Small Business Development Center (SBDC) will help business owners complete their Disaster Loan applications, and also help them connect to resources. Alexandria’s SBDC staff can be reached at 703.778.1292.

# # #