SBA Disaster Loan Outreach Centers to Open in Bremer, Butler and Johnson Counties
Release Date: July 12, 2008
Release Number: 1763-086
» More Information on Iowa Severe Storms, Tornadoes, and Flooding
DES MOINES, Iowa -- Joseph Folsom, district director of the U.S. Small Business Administration's (SBA) Iowa office, announced today that SBA will open Disaster Loan Outreach Centers (DLOCs) on Monday, July 14 in Waverly, Allison and Iowa City.
SBA customer service representatives will be available at the Disaster Loan Outreach Centers to issue loan applications, answer questions about SBA's disaster loan program, explain the application process, help each individual complete their application and close their approved disaster loans. SBA will open the DLOCs to provide personal assistance and disaster information to individuals and businesses who suffered damage as a result of the flooding, tornadoes and severe storms that began May 25 and are continuing.
The Waverly DLOC will be located at Waverly Public Library, 1500 West Bremer Avenue. Hours of operation will be Mondays through Fridays from 8 a.m. to 5 p.m., and on Saturdays from 10 a.m. until 2 p.m.
The Allison DLOC will be located at Butler County Farm Bureau, 422 North Main Street. Hours of operation will be Mondays through Fridays from 8:30 a.m. to 5 p.m., and on Saturdays from 9 a.m. until 1 p.m.
The Iowa City DLOC will be located at Iowa City Public Library, 123 South Linn Street. Hours of operation will be Mondays through Fridays from 10 a.m. to 7 p.m., and on Saturdays from 10 a.m. until 2 p.m.
"At this stage of the recovery process, the emphasis for assistance is to meet the long-term needs of victims. We believe that opening these three Disaster Loan Outreach Centers will better meet the current needs of Union and Page County residents and businesses," said Folsom.
SBA offers low-interest federal disaster loans to homeowners, renters, businesses of all sizes and private, non profit organizations to repair or replace property damaged or destroyed by the disaster. So far, SBA has approved more than $70 million in low-interest disaster loans to Iowa residents and businesses hurt by the severe storms, tornadoes and flooding.
SBA 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 any size 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 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 some private, non-profit organizations only, 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.
To be considered for all forms of disaster assistance, victims should first call the Federal Emergency Management Agency (FEMA) at 1-800-621-3362.
For additional information about SBA disaster assistance, call the SBA Customer Service Center at (800) 659 2955, or visit SBA's website at www.sba.gov/services/disasterassistance.
The filing deadline to return applications for property damage is September 29, 2008. The EIDL deadline is February 27, 2009.
FEMA coordinates the federal government's role in preparing for, preventing, mitigating the effects of, responding to, and recovering from all domestic disasters, whether natural or man-made, including acts of terror.
Last Modified: Tuesday, 15-Jul-2008 12:17:23