SBA Offers Disaster Assistance to Minnesota Residents in Traverse County Affected by Severe Storms and Flooding

Apr 03, 2007, 01:00 ET from U.S. Small Business Administration

    WASHINGTON, April 3 /PRNewswire-USNewswire/ -- Steven C. Preston,
 Administrator of the U.S. Small Business Administration (SBA) announced
 that low-interest disaster loans will be made to Minnesota residents
 affected by the severe flooding that occurred on March 14, 2007.
     Administrator Preston took this action following a March 29, 2007
 letter from Minnesota Governor Tim Pawlenty requesting a disaster
 declaration by SBA.
     The declaration covers Traverse County and neighboring counties of Big
 Stone, Grant, Stevens and Wilkin in the State of Minnesota and Richland
 County in the state of North Dakota and Roberts County in the state of
 South Dakota.
     "We look forward to working with Minnesota and the people affected by
 the severe flooding to make SBA disaster loans available to homeowners,
 renters and businesses," said Administrator Preston.
     Frank Skaggs, Director of Disaster Field Operations Center East said,
 "Loans up to $200,000 are available to homeowners to repair or replace
 damaged or destroyed real estate. Homeowners and renters are eligible for
 up to $40,000 to repair or replace damaged or destroyed personal property.
 SBA Customer Service Representatives will be on hand at the following
 Disaster Loan Outreach Center to issue loan applications, answer questions
 about SBA's disaster loan program, explain the application process and help
 individuals complete their applications."
     The Center is located in the following community as indicated:
 
     Traverse County
 
     Municipal Building (City Hall)
     19 3rd Street South
     Browns Valley, MN  56219
     Opens:  Thursday, April 5; 8:30 a.m. to 5 p.m.
     Hours:  Monday - Friday; 8:30 a.m. to 5 p.m.
             Saturday, April 7; 9 a.m. to 1 p.m. (one Saturday only)
     Edward Daum SBA's Minnesota District Director stresses, "These low-
 interest Federal disaster loans are available to homeowners, renters,
 businesses of all sizes and private, non-profit organizations whose
 property was damaged or destroyed by the incident."
     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. 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 from
 occurring in the future.
     For small businesses only, SBA offers Economic Injury Disaster Loans
 (EIDLs) to help meet working capital needs caused by the disaster. EIDL
 assistance is available regardless of whether the business suffered any
 property damage.
     Individuals and businesses unable to visit SBA in person may obtain
 information and loan applications by calling toll-free (800) 659-2955.
 Hearing impaired individuals may call (800) 877-8339.
     The filing deadline to return applications for property damage is June
 1, 2007. The deadline to return economic injury applications is January 2,
 2008.
     For more information about the SBA's Disaster Loan Programs, visit our
 website at http://www.sba.gov/services/disasterassistance.
 
 

SOURCE U.S. Small Business Administration
    WASHINGTON, April 3 /PRNewswire-USNewswire/ -- Steven C. Preston,
 Administrator of the U.S. Small Business Administration (SBA) announced
 that low-interest disaster loans will be made to Minnesota residents
 affected by the severe flooding that occurred on March 14, 2007.
     Administrator Preston took this action following a March 29, 2007
 letter from Minnesota Governor Tim Pawlenty requesting a disaster
 declaration by SBA.
     The declaration covers Traverse County and neighboring counties of Big
 Stone, Grant, Stevens and Wilkin in the State of Minnesota and Richland
 County in the state of North Dakota and Roberts County in the state of
 South Dakota.
     "We look forward to working with Minnesota and the people affected by
 the severe flooding to make SBA disaster loans available to homeowners,
 renters and businesses," said Administrator Preston.
     Frank Skaggs, Director of Disaster Field Operations Center East said,
 "Loans up to $200,000 are available to homeowners to repair or replace
 damaged or destroyed real estate. Homeowners and renters are eligible for
 up to $40,000 to repair or replace damaged or destroyed personal property.
 SBA Customer Service Representatives will be on hand at the following
 Disaster Loan Outreach Center to issue loan applications, answer questions
 about SBA's disaster loan program, explain the application process and help
 individuals complete their applications."
     The Center is located in the following community as indicated:
 
     Traverse County
 
     Municipal Building (City Hall)
     19 3rd Street South
     Browns Valley, MN  56219
     Opens:  Thursday, April 5; 8:30 a.m. to 5 p.m.
     Hours:  Monday - Friday; 8:30 a.m. to 5 p.m.
             Saturday, April 7; 9 a.m. to 1 p.m. (one Saturday only)
     Edward Daum SBA's Minnesota District Director stresses, "These low-
 interest Federal disaster loans are available to homeowners, renters,
 businesses of all sizes and private, non-profit organizations whose
 property was damaged or destroyed by the incident."
     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. 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 from
 occurring in the future.
     For small businesses only, SBA offers Economic Injury Disaster Loans
 (EIDLs) to help meet working capital needs caused by the disaster. EIDL
 assistance is available regardless of whether the business suffered any
 property damage.
     Individuals and businesses unable to visit SBA in person may obtain
 information and loan applications by calling toll-free (800) 659-2955.
 Hearing impaired individuals may call (800) 877-8339.
     The filing deadline to return applications for property damage is June
 1, 2007. The deadline to return economic injury applications is January 2,
 2008.
     For more information about the SBA's Disaster Loan Programs, visit our
 website at http://www.sba.gov/services/disasterassistance.
 
 SOURCE U.S. Small Business Administration