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Washington D.C.
Small Business Administration
News Release
Wednesday, July 01, 2009

Residents and Businesses Affected by Severe Storm and Flooding

Have Two Weeks Left to Apply for Federal Disaster Loans

Sacramento, CA – Manuel R. Gonzalez, Director of the U. S. Small Business Administration’s (SBA) Houston District Office, announced Tuesday that individuals and businesses who have suffered property damage as a result of the April 27 - 28 severe storm and flooding have until July 14, 2009 to apply for an SBA Federal disaster loan.

“Low-interest Federal disaster loans are available to homeowners, renters, businesses of all sizes and private, non-profit organizations whose property was damaged or destroyed by the severe storm and flooding,” said Gonzalez.  “These loans are available in the SBA disaster declared counties of Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery and Waller,” he added.

According to Gonzalez, SBA has approved over $1.3 million in Federal disaster loans for those affected by this disaster.

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate.  Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

Businesses of all sizes 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 protect, 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 size, 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 deadline to return economic injury applications is February 15, 2010.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at
https://disasterloan.sba.gov/ela

Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling SBA toll-free at (800) 659‑2955, emailing
disastercustomerservice@sba.gov, or visiting SBA’s Web site at www.sba.gov/services/disasterassistance.  Hearing impaired individuals may call (800) 877‑8339.






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