SBA Outreach Center Opens In Rochester Monday, Sept. 24 

Release Date: September 22, 2007
Release Number: 1717-034

» More Information on Minnesota Severe Storms and Flooding

ROCHESTER, Minn. -- A U.S. Small Business Administration (SBA) Disaster Loan Outreach Center will open Monday, Sept. 24, in Rochester, according to officials from Minnesota Homeland Security and Emergency Management (HSEM) and the U.S Department of Homeland Security's Federal Emergency Management Agency (FEMA).

The new outreach center joins one already operating in Hokah, Houston County. At the centers, SBA specialists can answer questions about the SBA loan process, help residents affected by the recent severe storms and flooding fill out applications for low-interest loans, and close approved loans. Locations and hours for the two centers are:

Houston County
Hokah Fire Station and Community Center
9 Mill Road
(Hwy 44 & Hwy 16)
Hokah, MN 55941
Hours until further notice:
Monday - Saturday, 9 a.m. to 6 p.m.

Olmsted County
Rochester Community and Technical College
Heintz Building A - Room 112
1926 Collegeview Road SE
Rochester, MN 55904
Operates Monday, Sept. 24 through Saturday, Oct. 6
Hours:
Monday - Friday, 8 a.m. to 5 p.m.
Saturday, 9 a.m. to 4 p.m.

Residents and business owners alike may be eligible for low-interest SBA loans to help them recover from losses not covered by insurance, grants or other sources. Residents may receive loans, at interest rates around three percent, to replace personal property - such as furniture and clothing - or to repair damage to their primary residence. Businesses may receive loans, at rates around four percent, to repair damage to real estate, machinery, equipment and inventory. In addition, businesses may receive loans to help provide working capital to recover from the disaster's economic impact. Actual loan amounts and terms are determined by the SBA and based on each applicant's financial situation.

Completing the SBA loan application is also necessary to be considered for some other forms of disaster assistance, and applicants should be sure to fill it out whether or not they intend to take an SBA loan.

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: Monday, 24-Sep-2007 09:06:45