***\`0 Disaster
News***![](media/image1.png){width="1.5847222222222221in"
height="0.7277777777777777in"}

***Loans for Homeowners, Renters and Businesses of all Sizes***

SBA Disaster Assistance -- Field Operations Center- East - One Baltimore
Place, Suite 300 - Atlanta, GA 30308

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_

**Release Date:** February 26, 2007 C**ontact:** Michael Lampton

**Release Number:** 07-255, PA 10794-10795 **Phone**: (404)-347-3771

**DEADLINE TO APPLY FOR DISASTER LOANS APPROACHING**

***SBA PHYSICAL APPLICATIONS DEADLINE March 26***

**BEDFORD, Pa. -** The U.S. Small Business Administration (SBA) is
reminding homeowners, renters, non-profit organizations and businesses
that one month remains to submit disaster loan applications for damage
caused by a fire that occurred January 11, 2007. **The deadline to file
an application for physical damage is [March 26, 2007]{.underline}**.
Homeowners, renters, non-profit organizations and businesses that
sustained physical damage in **Bedford County** and contiguous counties
of Blair, Cambria, Fulton, Huntingdon, and Somerset in the Commonwealth
of Pennsylvania and the contiguous county of Allegany in the State of
Maryland are eligible to apply.

SBA offers loans up to \$200,000 to repair disaster damaged primary
residences. Homeowners and renters are eligible for loans up to \$40,000
to replace personal property such as furniture, appliances and clothing.
Loans to businesses of all sizes and non-profit organizations are
available up to \$1.5 million to repair damage to real estate,
machinery, inventory and equipment. Economic Injury Disaster Loans
(EIDLs) are also available to small businesses unable to pay bills or
meet operating expenses because of the disaster.

Interest rates can be as low as 3 percent for homeowners and renters and
4 percent for businesses with terms up to 30 years. Loan amounts and
terms are set by SBA and are based upon each applicant's financial
condition.

Additionally, disaster victims with insurance should not wait for an
insurance settlement before applying to SBA. If a victim does not know
how much of their loss will be covered by insurance or other sources,
SBA will consider making a loan for the total loss up to its loan
limits, provided the borrower agrees to use insurance proceeds to reduce
or repay their SBA loan.

SBA also offers mitigation funds to disaster victims who have approved
loans for real property. SBA's mitigation funds are designed to help
borrowers fund protective measures which may prevent damages of the same
kind from recurring in the future. To help fund these protective
measures, borrowers may request an additional 20 percent of their
approved loan amount.

Disaster victims may obtain an application by calling the SBA's Customer
Service Center at\
1-800-659-2955 (1-800-877-8339 for the hearing-impaired), Monday through
Friday from 8 a.m. until 9 p.m. (EST). Business loan applications can
also be downloaded from the SBA website at
[www.sba.gov/services/disasterassistance](http://www.sba.gov/services/disasterassistance).
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 property damage is
**March 26, 2007.** The deadline to return economic injury applications
is **October 25, 2007.**

\# \# \#

**For more information about the SBA's Disaster Loan Programs, visit our
website at**
[www.sba.gov/services/disasterassistance](http://www.sba.gov/services/disasterassistance)**.**