The announcement came Monday from the Small Business Association (SBA) Administrator Karen G. Mills.
According to the release the loans have been made available to Bartow and Gordon counties and the adjacent counties of Cherokee, Cobb, Floyd, Gilmer, Murray, Paulding, Pickens, Polk, Walker and Whitfield in Georgia.
“Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate,” said Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta. “SBA’s Customer Service Representatives are on hand at the Disaster Loan Outreach Centers to issue applications, and assist survivors with completing their applications.”
In Gordon County, assistance centers were established Monday at Sonoraville Recreation Center located at 7494 Fairmount Hwy in Calhoun. Hours of operation are 8 a.m. until 5 p.m. on weekdays and 10 a.m. until 2 p.m. Saturdays, closed on Sundays. The center will be closed Monday, Feb. 18 in observance of President’s Day.
“Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets,” said Terri Denison, SBA’s Georgia district director.
The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/ or leasehold improvements, as verified by SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.
For small businesses, small agricultural cooperatives, small aquaculture businesses and most private nonprofit organizations of all sizes, the 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 physical property damage.
Interest rates are as low as 1.688 percent for homeowners and renters, 2.875 percent for non-profit organizations and 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.
Applicants may also apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.
Individuals and businesses unable to visit the Center may obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by sending an email to firstname.lastname@example.org. Loan applications can also be downloaded from the SBA’s website 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.
The filing deadline to return applications for physical property damage is April 9, 2013. The deadline to return economic injury applications is November 16, 2013.
For more information about the SBA’s Disaster Loan Program, visit www.sba.gov.