|Tyler County Booster - Local News
Stories Added - January 2009
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SBA Disaster Loan Assistance following Hurrican Ike Still Available
Tyler County Booster - January 2009
Manuel R. Gonzalez, Director of the U.S. Small Business Administration’s (SBA) Houston District Office, announced today that SBA has approved $500.9 million in Federal low-interest disaster loans to Texas homeowners, renters and businesses who sustained damages from Hurricane Ike. “Since the President declared Hurricane Ike a disaster, SBA has approved $388.9 million in low interest disaster loans to 7,483 Texas homeowners and renters and $112 million in loans to 1,097 businesses and private, non-profit organizations,” said Gonzalez. “SBA is committed to helping individuals and business owners in Texas rebuild their homes, their businesses, and their lives as quickly as possible,” said Gonzalez. Individuals and business owners who sustained damages from the hurricane are encouraged to tele-register with the Federal Emergency Management Agency (FEMA) by calling (800) 621-3362, or (800) 462-7585 (TTY) for the hearing and speech impaired. “The deadline to file an application for property damages for Hurricane Ike in Texas has been extended to February 6. Don’t miss out on assistance you may be entitled to by not registering for help,” he added. According to Gonzalez, SBA customer service representatives continue to be available at 13 Disaster Recovery Centers, 2 Disaster Loan Outreach Centers and 2 Business Assistance Centers throughout the affected areas. “These customer service representatives are available to meet individually with each disaster victim to issue loan applications, answer questions about SBA’s disaster loan program, explain the application process, help individuals complete their applications, and close approved disaster loans. No appointment is necessary at any center to speak with a representative,” Gonzalez said. SBA is the Federal government’s primary source of money for the long-term rebuilding of disaster damaged private property. Disaster loans up to $200,000 are available to homeowners to repair or replace their damaged or destroyed primary residence. 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 prevent or minimize the same type of disaster damage from occurring in the future. For small businesses and most private, non-profit organizations of all sizes, 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. The EIDL application deadline is June 15,2009.