Delaware Small Businesses Economically Impacted by Hurricane Irene Can Apply for SBA Disaster Loans

WASHINGTON, Oct. 20, 2011 /PRNewswire-USNewswire/ -- Low-interest disaster loans are available to Delaware small businesses, small agricultural cooperatives, small aquaculture businesses and most private non-profit organizations that were affected by rainfall and flooding from Hurricane Irene on Aug. 27-28, 2011.  

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SBA Administrator Karen Mills made the loans available following a request from Delaware Gov. Jack Markell on Oct. 18 for a disaster declaration by the SBA.  The declaration covers Sussex County and the neighboring counties of Kent in Delaware and Caroline, Dorchester, Wicomico and Worcester in Maryland.

"The Small Business Administration is strongly committed to providing the most effective and customer-focused response possible to help small businesses and non-profits in Delaware with their federal disaster loans," said Mills.  "Getting our businesses and communities up and running after a disaster is our highest priority at SBA."

"The SBA can help affected small businesses and non-profit organizations overcome their economic losses by offering working capital loans, but the help cannot start until they submit an SBA Disaster Loan application to us," said Jayne Armstrong, SBA's Delaware district director.  

Eligible entities may qualify for loans up to $2 million.  The SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster.  The rates on these loans are 3 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years.  The SBA determines eligibility for the loans based on the size and type of business and its financial resources.  Loan amounts and terms are set by the SBA and are based on each applicant's financial condition.

Applications and program information are available by calling the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) Monday through Friday from 8 a.m. to 8 p.m., and Saturday and Sunday from 9 a.m. to 5:30 p.m. ET or by sending an e-mail to [email protected].  Loan applications can also be downloaded at www.sba.gov. Completed applications should be returned to the Center or mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Those impacted may apply for disaster loans from SBA's secure website at https://disasterloan.sba.gov/ela/.  

The deadline to return economic injury applications is July 20, 2012.  

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

Contact: Michael Lampton
Phone: 404-331-0333

SOURCE U.S. Small Business Administration

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