SBA Disaster Loan Outreach Center in Vidalia to Close

Sep 08, 2011, 18:16 ET from U.S. Small Business Administration

SACRAMENTO, Calif., Sept. 8, 2011 /PRNewswire-USNewswire/ -- Michael Ricks, District Director of the U.S. Small Business Administration's (SBA) Louisiana District Office, announced today that SBA will close its Disaster Loan Outreach Center in Vidalia at the close of business on Tuesday, September 13.  

"SBA opened the center to provide assistance to Louisiana residents and business owners who were affected by the flooding that occurred from April 25 through July 7 in Concordia Parish.  Until the center closes, SBA customer service representatives will continue to be available to meet with residents and business owners to answer their questions, explain SBA's disaster loan program, issue applications and help them complete their disaster loan application.  

Residents and business owners can meet with SBA representatives on the days and times indicated.  No appointment is necessary.

Concordia Parish
Disaster Loan Outreach Center
Concordia Parish Courthouse
Downstairs Meeting Room
4001 Carter Street
Vidalia, LA  71373

Mondays through Fridays
8 a.m. - 12 p.m. and 1 p.m. - 5 p.m.
Closes Tuesday, September 13 at 5 p.m.

Disaster 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.

Businesses of any size and private, nonprofit organizations may borrow up to $2 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 homeowners and businesses 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 and most private, nonprofit organizations of any size, 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.

Interest rates can be as low as 2.688 percent for homeowners and renters, 3 percent for private, nonprofit organizations and 4 percent for businesses, with terms up to 30 years.  Loan amounts and terms are set by SBA and are based upon each applicant's financial condition.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure Web site at  

Disaster loan information and application forms are also available from SBA's Customer Service Center by calling SBA at (800) 659-2955, emailing, or visiting SBA's Web site at  Individuals who are deaf or hard-of-hearing may call (800) 877-8339.  

The filing deadline to return applications for property damage is October 28, 2011.  The deadline to return economic injury applications is May 29, 2012.

For more information, visit SBA's Web site at

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

SOURCE U.S. Small Business Administration