***\`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

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**Release Date:** August 27, 2007 C**ontact:** Michael Lampton

**Release Number:** 07-642 VT 10944 **Phone**: (404)-347-3771

**DEADLINE TO APPLY FOR DISASTER LOANS APPROACHING**

***SBA PHYSICAL APPLICATIONS DEADLINE SEPTEMBER 21, 2007***

**MONTPELIER, Vt. --** The U.S. Small Business Administration (SBA) is
reminding homeowners, renters, non-profit organizations and businesses
that less than one month remains to submit disaster loan applications
for damage caused by the severe storms and flooding July 9 - 11, 2007.
**The deadline to file an application for physical damage is [September
21, 2007]{.underline}**.

Homeowners, renters, non-profit organizations and businesses that
sustained physical damage in **Washington County** and contiguous
counties of Addison, Caledonia, Chittenden, Lamoille and Orange in the
State of Vermont 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 2.875 percent for homeowners and renters
and 4.000 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
physical loans. 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. to 9 p.m. and Saturday 9 a.m. to 5:30 p.m. EDT.
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 physical damage [is
**September 21, 2007**]{.underline}**.** The deadline to return economic
injury applications is **[April 23, 2008]{.underline}.**

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**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)**.**