Business Services Industry

SBA Disaster Loan Outreach Centers in Cabarrus and Mecklenburg Counties Closing

Business Wire, Sept 24, 2008

ATLANTA -- The U.S. Small Business Administration announces today that the Disaster Loan Outreach Centers located in Cabarrus and Mecklenburg Counties will close Friday, September 26 at the close of business.

The SBA urges homeowners, renters, businesses and non-profit organizations of all sizes that are affected by the severe storms and flooding that occurred on August 26 - 27, 2008 to visit the Centers before they close.

The Centers are located in the following communities:

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"We want to express our sincere gratitude to the staff of Old Cabarrus County Sheriff's Office in Cabarrus County and Hal Marshall Annex in Mecklenburg County," said Frank Skaggs, Director of SBA Field Operations Center East in Atlanta. "By providing the facilities for our Disaster Loan Outreach Centers, they have helped disaster victims in their community. We deeply appreciate their generosity.

"I encourage anyone who has not completed their disaster loan application to meet with one of the Customer Service Representatives at the Center before it closes," Skaggs added.

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

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. SBA can also lend additional funds to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage in the future.

For small businesses, and most private, non-profit organizations of all sizes, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.

Interest rates are as low as 2.875 percent for homeowners and renters and 4 percent for businesses with terms up to 30 years. Loan amounts and terms are set by the SBA and are based upon each applicant's financial condition.

Anyone unable to visit the Centers may obtain an application by calling the SBA's Customer Service Center at 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 and Sunday 9 a.m. to 9 p.m. EDT, or by emailing our Customer Service Center at disastercustomerservice@sba.gov. Business loan applications can also be downloaded from the SBA website at www.sba.gov/services/disasterassistance. Completed applications should be returned to any of the Centers or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX. 76155.

Disaster victims may also apply for disaster loans from SBA's secure website at https://disasterloan.sba.gov/ela/.> The deadline to return physical loan applications is November 3, 2008. The deadline for returning economic injury loan applications is June 4, 2009.

For more information about the SBA's Disaster Loan Programs, visit our website at www.sba.gov/services/disasterassistance.> Release Number: 08-662, NC 11416/11417