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BUSINESS
Disaster loans available to small businesses, nonprofits
Federal economic disaster loans are available to small businesses, small agricultural cooperatives and most private, non-profit organizations of all sizes in Cabell, Wayne and Mason counties in West Virginia, among others.
The U.S. Small Business Administration has announced that the loans are available in certain areas of West Virginia as a result of financial losses after excessive rains, flooding, flash flooding, hail, frost, lightning, high winds and tornadoes that occurred Feb. 1, 2008.
"These counties are eligible because they are contiguous to one or more primary counties in the state of Ohio. The Small Business Administration recognizes that disasters do not usually stop at county or state lines," Frank Skaggs, director of SBA Field Operations Center East, said in a press release.
Eligible businesses and organizations may qualify for loans of up to $2 million, available at a 4 percent interest rate with loan terms up to 30 years.
Disaster victims should contact the SBA's Customer Service Center by calling 800-659-2955 sometime between 8 a.m. and 9 p.m. Monday through Friday or between 9 a.m. and 9 p.m. Saturday and Sunday. The center can be reached via e-mail at disastercustomerservice@sba.gov.
Loan applications can be downloaded from the SBA's Web site at www.sba.gov/services/disasterassistance. Complete applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
Victims may visit SBA's secure Web site at https://disasterloan.sba.gov/ela/ to apply for disaster loans. Completed applications must be returned to the SBA no later than June 3, 2009.
