SBA disaster loan deadline nears

July 9, 2009



The Small Business Administration reminds small businesses, small agricultural cooperatives and most private, non-profit organizations of all sizes that July 27 is the filing deadline for federal economic injury disaster loans available in Mississippi. The SBA declared a disaster because of damages and losses to crops due to wind and rainfall associated with Hurricanes Gustav and Ike from Aug. 28 to Sept. 18, 2008. These loans are available in Noxubee and Oktibbeha counties.  


Eligible small businesses and non-profit organizations may qualify for loans up to $2 million. These loans are available at a four percent interest rate with loan terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and financial resources. Loan amounts and terms are set by the SBA and are based on each applicant''s financial condition. Under this disaster declaration, the SBA cannot provide loans to agricultural producers.  


Disaster victims should contact the SBA''s customer service center by calling 800-659-2955 (800-877-8339 for the hearing-impaired) Monday through Friday from 7 a.m. to 8 p.m. or by sending an e-mail to [email protected] Loan applications can be downloaded from the SBA''s Web site at Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.