[Archived] U.S. Small Business Administration Opens Second Center To Assist Victims Of Recent Storms, Flooding, And Mudslides

City Press Release


	For Immediate Release	For More Information, Contact
	August 24, 2006 PIO# 196-06/rdo	Brian Hannigan, Director of Communications, or Raynard Owens, Communications Officer, at 703.838.4300 Raynard Owens, Communications Officer, at 703.838.4300

U.S. SMALL BUSINESS ADMINISTRATION OPENS SECOND CENTER
TO ASSIST VICTIMS OF RECENT STORMS, FLOODING, AND MUDSLIDES
Disaster Loan Assistance Center Will Provide
Low-Interest Loan Assistance to Area Homeowners, Renters, and Businesses

The U.S. Small Business Administration (SBA) has opened the second Disaster Loan Assistance Center in Northern Virginia to assist victims of recent area storms, flooding, and mudslides. The center is located in the Arlington Parks and Recreation Building, 3700 S. Four Mile Run Drive, and is open from 10 am to 7 pm, Monday through Friday.

The new center will provide low-interest loan assistance to homeowners, renters, and businesses in Arlington, Fairfax, Loudon, and Prince William counties, City of Alexandria, Fairfax City, and City of Falls Church in the Commonwealth of Virginia, the District of Columbia, and Charles, Montgomery, and Prince George’s counties in Maryland.

“The opening of the second SBA Disaster Loan Assistance Center in Arlington will provide convenient access for City residents and businesses that need to apply for loan assistance,” said Alexandria Mayor William D. Euille. “The center will assist residents and businesses in applying for much needed funding to begin and continue the rebuilding process from recent property devastation caused by area storms, flooding, and mudslides.”

The SBA will offer loans up to $40,000 for renters and homeowners to repair or replace disaster-damaged personal property, such as furniture and clothing. Homeowners are eligible for loans up to $200,000 to repair disaster-damaged primary residences. Loans to businesses of all sizes and nonprofit 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 are as low as 2.937 percent for renters and homeowners and 4.000 percent for businesses with terms up to 30 years. Loan amounts and terms are set by the SBA and are based upon each applicant’s financial condition.

Anyone unable to visit one of the Centers may obtain an application by calling the SBA Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired), Monday through Saturday from 8 am until 9 pm EDT. Applications may be obtained, completed, and returned to the Disaster Loan Assistance Centers or mailed to: U. S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas 76155. Business loan applications can also be downloaded from the SBA Web site at www.sba.gov/disaster.

The application deadline for physical damage is Oct 16, 2006; the deadline for economic injury applications is May 17, 2007.

The Disaster and Loan Assistance Center in Fairfax County will remain open at the South County Center, 8350 Richmond Highway, Alexandria, Va., from 10 am to 7 pm, Monday through Friday. Both centers will be open one Saturday only, Aug. 26, from 9 am to 4 pm.

For more information, call Michael Lampton of the Small Business Administration at 404-347-3771 or visit www.sba.gov/disaster.

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