Deadline for Physical Damage Disaster Loan Applications in Virginia is March 5

New Counties Added to the Declaration

ATLANTA, Feb. 8, 2012 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration reminds homeowners, renters, businesses and non-profit organizations of the deadline to submit disaster loan applications for damages caused by the earthquake. The deadline to file an SBA disaster loan application for physical damage is March 5.

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According to Acting Administrator Bridget Bean, SBA has approved over $3.6 million for impacted homeowners, renters and businesses.  "I cannot stress enough how important it is for people to submit their applications before the filing deadline.  Owners of small businesses that suffered economic losses because of the earthquake should take advantage of the opportunity to apply for economic injury funds for working capital," said Bean. 

The Virginia counties of Albemarle, Culpeper, Fluvanna, Goochland, King George, Louisa, Orange, Spotsylvania and the Independent City of Fredericksburg are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private non-profit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Augusta, Buckingham, Caroline, Chesterfield, Cumberland, Essex, Fauquier, Greene, Hanover, Henrico, Madison, Nelson, Powhatan, Rappahannock, Rockingham, Stafford, Westmoreland and the Independent City of Charlottesville in Virginia.

Interest rates are as low as 2.5 percent for homeowners and renters, 3 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years.  The SBA sets the loan amounts and terms based on each applicant's financial condition.

For additional information, call the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or send an e-mail to [email protected].  Loan application forms can be downloaded from the SBA's website at www.sba.gov.  Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. 

Those affected by the disaster may also apply for disaster loans electronically from SBA's website at https://disasterloan.sba.gov/ela/.

The filing deadline to return applications for physical damage is March 5, 2012.  The deadline to return economic injury applications is August 6, 2012.

For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov.

Contact: Michael Lampton
Phone: (404) 331-0333

SOURCE U.S. Small Business Administration

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