ATLANTA – The U.S. Small Business Administration (SBA) is reminding businesses of all sizes, private nonprofit organizations, homeowners and renters in Georgia affected by the severe storms, straight-line winds, tornadoes and flooding which occurred March 25-27, to apply for physical damage disaster loans by the Aug. 28 deadline.
“Waiting to file an SBA application could cause unnecessary delays in receiving disaster assistance, and survivors may miss the application deadline. Submitting the loan application is an essential part of the disaster recovery process,” said Kem Fleming, director of SBA Field Operations Center East.
Anyone in the declared counties with physical property damage should apply for the low-interest disaster loan program. The declaration covers Troup County in Georgia and the adjacent counties of Coweta, Harris, Heard and Meriwether in Georgia, and Chambers and Randolph in Alabama.
Interest rates are as low as 4 percent for businesses, 2.375 percent for nonprofit organizations, and 2.375 percent for homeowners and renters, with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoanAssistance.sba.gov/ela/s and should apply under SBA declaration # 17971.
Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services), or by emailing DisasterCustomerService@sba.gov. Loan applications may be downloaded at sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is Aug. 28, 2023. The deadline to return economic injury applications is March 28, 2024.