ATLANTA -- The U.S. Small Business Administration has authorized disaster loan applications for several counties in West Virginia and Ohio related to flooding earlier this year.

SBA representatives at disaster recovery centers in Logan, McDowell and Wyoming counties in West Virginia can accept loan applications, answer questions and assist in completing the applications. The centers are open from 10 a.m. to 7 p.m. weekdays and 10 a.m. to 2 p.m. Saturdays.

The loans can be used by homeowners, renters, non-profit organizations and businesses for repairs or replacement of personal property.

A completed SBA loan application may also enable some households to receive additional disaster assistance from the Federal Emergency Management Agency (FEMA). FEMA applicants who receive SBA loan applications must complete and return them to be considered for FEMA and the state to help with personal property replacement, vehicle repair or replacement and moving and storage expenses.

The same assistance applies to those in Adams, Lawrence and Scioto counties in Ohio, as a result of flooding that began on April 30.

The loan amount can be up to $2 million with a 3 percent interest rate for non-profit organizations, 4 percent for small businesses and terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant's financial condition. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.

Questions can also be answered by the SBA Disaster Customer Service Center at 800-659-2955 or 800-877-8339 for the hearing impaired. Customer service specialists are available Monday through Friday from 8 a.m. to 6 p.m.

Completed loan applications must be returned to SBA no later than March 1, 2011.

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