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Small Business Administration Loans Still Available For 2014 Flood Damage

Lindsay Myers

Small businesses affected by last spring’s storms in the Pensacola area have until February 6 to apply for a working capital disaster loan from Uncle Sam.

Also eligible for a loan from the U.S Small Business Administration are small agriculture and aquaculture operations, and most private non-profits. They must have sustained the damage in the severe storms, tornadoes and flooding between April 28 through May 6.

Jack Camp with the SBA encourages anyone who has yet to submit an application to do so ASAP. Working capital disaster loans up to $2 million dollars are available, with low interest rates and terms of up to 30 years.

Homeowners are eligible for up to $200,000 for real estate repairs. Ownders and renters also can borrow up to $40,000 dollars for the loss of personal property.

Businesses can also look into the SBA’s working capital program, known as an economic injury disaster loan. That’s designed to allow businesses to pay their normal operating expenses.

More information is available by calling the SBA disaster customer service center at 800-659-2955 or by visiting www.SBA.gov/disaster.

The deadline to apply to the SBA is at the end of business on Friday, February 6th. 

Dave came to WUWF in September, 2002, after 14 years as News Director at the Alabama Radio Network in Montgomery, Mobile and Birmingham and a total of 27 years in commercial radio. He's also served as Alabama Bureau Chief for United Press International, and a stringer for the Birmingham Post-Herald.