Disaster Assistance Available for Small Businesses

Sep 23, 2011, 14:53 ET from U.S. Small Business Administration

SACRAMENTO, Calif., Sept. 23, 2011 /PRNewswire-USNewswire/ -- Small, nonfarm businesses in 49 Missouri counties, the independent city of Saint Louis and neighboring counties in Iowa, Illinois, Kansas, and Nebraska are now eligible to apply for low-interest disaster loans from the U.S. Small Business Administration (SBA).  "These disaster loans offset economic losses because of reduced revenues caused by excessive rain and flooding that began May 1, 2011, in the following 23 primary Missouri counties," announced Alfred E. Judd, Director of SBA's Disaster Field Operations Center  West.

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Primary Missouri counties:  Andrew, Atchison, Boone, Buchanan, Callaway, Carroll, Clark, Clay, Cole, Cooper, Franklin, Holt, Howard, Jackson, Lafayette, Lewis, Moniteau, Montgomery, Platte, Ray, Saint Louis, Saline and Warren;

Neighboring Missouri counties:  Audrain, Caldwell, Cass, Chariton, Clinton, Crawford, De Kalb, Gasconade, Gentry, Jefferson, Johnson, Knox, Lincoln, Livingston, Marion, Miller, Morgan, Nodaway, Osage, Pettis, Pike, Randolph, Saint Charles, Scotland, Shelby, and Washington;

Neighboring independent city of Saint Louis;

Neighboring Illinois counties:  Adams, Hancock, Madison, Monroe, and Saint Clair;

Neighboring Iowa counties:  Fremont, Lee, Page and Van Buren;

Neighboring Kansas counties:  Atchison, Doniphan, Johnson, Leavenworth and Wyandotte;

Neighboring Nebraska counties:  Nemaha, Otoe and Richardson.

"SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster," Judd said.

Small, nonfarm businesses, small agricultural cooperatives and most private, nonprofit organizations of any size may qualify for Economic Injury Disaster Loans (EIDLs) of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.

"Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage.  These loans have an interest rate of 4% for businesses and 3% for private, nonprofit organizations, a maximum term of 30 years, and are available to small businesses and most private, nonprofits without the financial ability to offset the adverse impact without hardship," Judd said.

By law, SBA makes EIDLs available when the U. S. Secretary of Agriculture designates an agricultural disaster.  Secretary Tom Vilsack declared this disaster at the request of Governor Jay Nixon.

Applicants may also apply online using the Electronic Loan Application (ELA) via SBA's secure Web site at https://disasterloan.sba.gov/ela.  

Information and application forms are available from SBA's Customer Service Center by calling (800) 659-2955, emailing disastercustomerservice@sba.gov, or visiting SBA's Web site at www.sba.gov/services/disasterassistance.  Individuals who are deaf or hard-of-hearing may call (800) 877-8339.  

The deadline to apply for these loans is May 15, 2012.

For more information, visit SBA's Web site at www.sba.gov.
SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841

Media Contact:  Richard Jenkins
Phone:  (916) 735-1500

SOURCE U.S. Small Business Administration