SACRAMENTO, Calif., Sept. 21, 2011 /PRNewswire-USNewswire/ -- Low-interest federal disaster loans are available to Oklahoma residents and business owners affected by a wildfire that occurred August 30 through September 1, 2011, U. S. Small Business Administration (SBA) Administrator Karen G. Mills announced today. SBA acted under its own authority to declare a disaster in response to a September 19 request from Governor Mary Fallin.
The disaster declaration makes SBA assistance available in Oklahoma County and the neighboring counties of Canadian, Cleveland, Kingfisher, Lincoln, Logan and Pottawatomie.
"The U.S. Small Business Administration is strongly committed to providing Oklahomans with the most effective and customer-focused response possible, and we will be there to provide access to federal disaster loans to help finance recovery for residents and businesses affected by the disaster," said Mills. "Getting our businesses and communities up and running after a disaster is our highest priority at SBA."
"Low-interest federal disaster loans are available to homeowners, renters, businesses of all sizes and private, nonprofit organizations whose property was damaged or destroyed by the disaster," said SBA's Oklahoma District Director Dorothy Overall. "Beginning Monday, September 26, 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 each individual complete their application," Overall continued.
The center will be open on the days and times indicated. No appointment is necessary.
Disaster Loan Outreach Center
YMCA Senior Center
4712 N. Martin Luther King Avenue
(Near the amphitheater)
Oklahoma City, OK 73111
Opens Monday, September 26 at 8 a.m.
Mondays, Tuesdays and Wednesdays
8 a.m. to 5 p.m.
Closes Wednesday, October 5 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 and aquaculture businesses, 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 2.5 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 via SBA's secure Web site at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available from SBA's Customer Service Center by calling SBA at (800) 659-2955, emailing [email protected], or visiting SBA's Web site at www.sba.gov/services/disasterassistance. Individuals who are deaf or hardofhearing may call (800) 877-8339.
The filing deadline to return applications for property damage is November 21, 2011. The deadline to return economic injury applications is June 21, 2012.
For more information, visit SBA's Web site at www.sba.gov.
Media Contact: Richard Jenkins
Phone: (916) 735-1500
SOURCE U.S. Small Business Administration