Flood and Storm Victims SBA Deadline is November 23

The Small Business Administration is urging victims of the Atlanta Georgia area flooding that occurred from September 18 through October 8, 2009, to complete and return applications for emergency assistance and loans by November 23, 2009.

The SBA is concerned that many business and home owners will not have settled with their insurance company by that time. Thus, the victim will not know what portion of the damage will be covered by insurance and what portion will need to be covered by a loan. The SBA is urging victims to complete and return the paperwork even if the amount of the insurance settlement is unknown. The SBA will make the full loan in return for reimbursement when settlement insurance proceeds are recovered.

Businesses and non-profit organizations of any size (in a specific geographic area affected by the flooding) may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. Interest rates are as low as 4 percent for businesses with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant's financial condition.

Business loan applications may be downloaded from www.sba.gov/services/disasterassistance. Applications may be returned to one of the Business Recovery Centers or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas, 76155. Anyone unable to visit one of the Centers may obtain information and loan applications by calling the SBA's Customer Service Center at 1-800-659-2955 (or 1-800-877-8339 for the hearing impaired) Monday through Saturday, 8 a.m. to 9 p.m. EDT, or send an email to disastercustomerservice@sba.gov.