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Loan application deadlines for businesses affected by Christmas or Groundhog Day tornadoes are approaching

RELEASE DATE: October 24, 2007

TAVARES — The Lake County Department of Public Safety, Emergency Management Division, would like to remind local business owners affected by the tornadoes of Dec. 25, 2006, or Feb. 2, 2007, that the deadlines to apply for loans from the U.S. Small Business Administration (SBA) is approaching.

The deadline to apply for low-interest loans for the Christmas Day tornado is Thursday, Nov. 8, and the deadline for the Groundhog Day tornadoes is Monday, Nov. 5.

Small business owners may apply for loans up to $l.5 million if they suffered substantial economic injury from the disaster. These working capital loans may be used to pay fixed debts, payroll, accounts payable and other bills that could have been paid had the disaster not occurred. These loans are not intended to replace lost sales or profits.

The interest rate on these loans is 4 percent, with a maximum term of 30 years. The SBA determines the amount of economic injury and the terms of each loan based on the financial circumstances of each borrower.

To obtain a loan application, interested business owners should contact SBA’s Customer Service Center by calling 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Friday from 8 a.m. to 9 p.m. and Saturday 9 a.m. to 5:30 p.m. Business disaster loan applications can also be downloaded from the SBA’s Web site at www.sba.gov/services/disasterassistance. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

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Office: 352-343-9603; Cell: 352-455-0445
klafollette@lakecountyfl.gov

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