For those of you who sustained heavy damage in the June 13 - 15 storms, there are some low interest loans available to make repairs. Here is some information I received by email today. Please pass it along to anyone you know in the affected counties who might benefit from this information.
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SBA Offers Disaster Assistance to Oklahoma Residents and Businesses Affected by the Tornadoes, Severe Storms, Straight Line Winds and Flooding
Sacramento, CA Low-interest federal disaster loans are available to Oklahoma residents and business owners affected by the tornadoes, severe storms, straight line winds and flooding that occurred June 13 through June 15, 2010 in Oklahoma County, said U. S. Small Business Administration (SBA) Administrator Karen G. Mills. SBA acted under its own authority to declare a disaster in response to the states request on July 9, 2010 following the July 2, 2010 denial of the states request for a major disaster declaration.
The disaster declaration makes SBA assistance available in the Oklahoma counties of Canadian, Cleveland, Kingfisher, Lincoln, Logan, Oklahoma and Pottawatomie.
The U. S. Small Business Administration is strongly committed to providing the most effective and customer-focused response possible to assist those residents and businesses affected by the severe storms, tornadoes and flooding with federal disaster loans, 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, non-profit organizations whose property was damaged or destroyed by the disaster, said Dorothy A. Overal, SBAs Oklahoma District Director. Beginning Thursday, July 15 at 9 am, SBA customer service representatives will be on hand at the following Disaster Loan Outreach Center to issue loan applications, answer questions about SBAs disaster loan program, explain the application process, help each individual complete their application and close their approved loans, Overal continued. The center will be open on the days and times indicated. No appointment is necessary.
Oklahoma County
Disaster Loan Outreach Center
Veterans of Foreign Wars (VFW) Post 4938
16 East Campbell Street
Edmond, OK 73034
Opens Thursday, July 15 at 9 am
Open Thursday, July 15 through Thursday, August 5
Mondays through Fridays, 9 am to 6 pm
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, non-profit 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, non-profit 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 2.75 percent for homeowners and renters, 3 percent for private, non profit 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 applicants financial condition.
Disaster loan information and application forms are also available from SBAs Customer Service Center by calling SBA toll-free at (800) 659 2955, emailing
[email protected], or visiting SBAs Web site at
www.sba.gov/services/disasterassistance. Hearing impaired individuals may call (800) 877 8339.
Applicants may apply online using the Electronic Loan Application (ELA) via SBAs secure Web site at
https://disasterloan.sba.gov/ela.
The filing deadline to return applications for property damage is September 13, 2010. The deadline to return economic injury applications is April 13, 2011.
For more information visit SBAs Web site at
www.sba.gov.
