Tuesday, February 3, 2009

SBA Assistance for Snow Storm Economic Impact

The SBA offers disaster assistance to Washington small businesses economically impacted by the December snowstorms.

The Acting Administrator of the U. S. Small Business Administration (SBA), today announced that the SBA is making low-interest Economic Injury Disaster Loans available to small businesses economically impacted by snowstorms in Washington that occurred from December 12, 2008 through January 5, 2009.

The declaration covers all counties in Washington and neighboring counties in Idaho and Oregon.
SBA’s disaster declaration immediately makes these low-interest disaster loans available to help small businesses and most private, non-profit organizations meet financial needs caused by the disaster.

Alfred E. Judd, Director of SBA’s Disaster Field Operations Center - West, said, This disaster declaration is a separate event from President Obama’s January 30 declaration for the severe winter storms, flooding, landslides and mudslides that occurred from January 6 through January 16 in eight Washington counties.

SBA is offering working capital loans of up to $2 million at an interest rate of 4% with terms up to 30 years. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. These loans can provide vital economic assistance to small businesses affected by the snowstorms to help overcome the temporary financial impacts they are experiencing.

Folks can get help at the South Hill Mall Disaster Recovery Center (DRC). The DRC is located at Puyallup's South Hill Mall, inside the vacated Victoria's Secret storefront. The DRC will be open on Wednesday, Feb. 4 at noon until 7 p.m. and then Monday through Saturday, 9 a.m - 7 p.m., and on Sunday from 9 a.m. - 6 p.m. The center will remain open until further notice.

So, economic injury from the snow storms in December may be eligible for SBA low-interest loans. Get help also at register on-line or over the phone at 1-800-621-FEMA (3362), or go to the Disaster Recovery Center. The SBA Disaster Loan Outreach Centers will be open at the following locations on the days and times indicated.

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