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Disaster Recovery Center in Jackson Transitions to SBA Disaster Loan Outreach Center

Posted on: Thursday, 12 June 2008, 09:01 CDT

ATLANTA, June 12 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration announces today that the Disaster Recovery Center in Jackson, Hinds County, Mississippi will transition into a SBA Disaster Loan Outreach Center beginning, Friday, June 13. The SBA staff at the Center will continue to provide one-on-one assistance to homeowners, renters, and businesses of any size who received damage from the severe storms and tornadoes that occurred on April 4, 2008.

The establishment of the Disaster Loan Outreach Center demonstrates SBA's commitment to ensure that every qualified individual and business receives the help they need to recover from this disaster. "Assisting individuals to recover from a disaster is our primary mission. We are encouraging anyone affected by this disaster to visit the Center while we still have staff there and obtain individual assistance with completing their loan applications from our representatives," said Frank Skaggs, Director of SBA Field Operations Center East.

The Center will be located in the following community and will open as indicated:

Hinds County Willie Morris Library 4912 Old Canton Road Jackson, MS 39211 Opening: Friday, June 13, from 10:00 am. to 6:00 pm. Open: Saturday, June 14, from 10:00 am. to 2:00 pm. Close: Sunday, June 15 Open: Monday, June 16 - Thursday, June 19, from 10:00 am. to 7:00 pm. Friday, June 20, from 10:00 am. to 6:00 pm. Close: Saturday, June 21 and Sunday, June 22 Open: Mondays - Thursdays, from 10:00 am. to 7:00 pm. Fridays from 10:00 am. to 6:00 pm, until further notice

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace damaged or destroyed personal property. Businesses of any size and private non-profit organizations may borrow up to $1.5 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. The SBA can also lend additional funds to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage in the future.

The SBA offers Economic Injury Disaster Loans (EIDLs) for small businesses 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 2.750 percent for homeowners and renters, 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.

The SBA urges anyone who has not registered for assistance to call FEMA at 1-800-621-FEMA (3362), regardless of the status of any insurance claim. FEMA will refer you to the agency best able to meet your disaster-related needs.

Anyone unable to visit the Center who has registered with FEMA may obtain an application by calling the SBA's Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Friday from 8 a.m. to 8 p.m. EDT or by emailing our customer service center at disastercustomerservice@sba.gov. Business loan applications can also be downloaded from http://www.sba.gov/. Completed applications should be returned to the Center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX. 76155.

The deadline to return applications for physical property damage is July 28, 2008. The deadline to return applications for Economic Injury Disaster Loans (EIDLs) is March 2, 2009.

For more information about the SBA's Disaster Loan Programs, visit our web site at http://www.sba.gov/

U.S. Small Business Administration

CONTACT: Michael Lampton of the U.S. Small Business Administration,+1-404-331-0333

Web Site: http://www.sba.gov/

Source: PRNewswire-USNewswire

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